KCCI for bringing GST rate on handicrafts to zero

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SRINAGAR: A delegation headed by the President, Kashmir Chamber Of Commerce and Industries (KCCI) Javid Ahmed Tenga met advisor to the governor, B B VYAS here on Monday raising some important issues confronting the people in general and business community in particular.
According to an official statement, KCCI endorses rollback of GST which is supported by all trade bodies “but keeping in view the drastic reduction of exports as well as intra-state trade because of non-allowing of goods to be considered as transfer of stocks, it is imperative that the rate on all handicrafts be brought to zero”. The advisor promised to take up the issue with the GST Council in its next meeting . The advisor was told the labour component was more than 70% and handicrafts all along have been under zero taxation rate, read the handout.
The chamber delegation also raised the issue of reversal of input tax credit for post flood period besides amnesty under order number 38 “which needs to be either extended beyond 14th September or settled before that”. The advisor assured that either of the two will be done before the due date, it read.
The issue of land transfer of Zainakote as well as shalteng was discussed and he promised to hold a meeting with the Principal Secretary Industries to sort this problem by transferring the police colony as well as forest corporation to other site to release it back to industrial areas.
The advisor also assured that the issue of lease in Gulmarg, Pahalagam would also be favourably settled in the interests of all stakeholders, the handout added.