Srinagar: Ahead of the tabling of the union budget, the Kashmir Inc today said it is expecting special announcements for the Trade fraternity of Valley so that the Covid-Ridden business gets a boost.
Kashmir Trade Alliance (KTA) President Ajaz Shahdhar said they are hopeful that Union Finance Minister Nirmala Sita Raman would announce a series of measures so that the business sector of the valley gets a sigh of relief.
President Kashmir Trade Alliance Aijaz Shahdar reiterated with strong demand that an amnesty scheme be announced for old GST Act 1963 and VAT Act 2005 arrears and GST council be enjoined upon to lessen late of GSTR 3B returns from 2000 to Rs. 500 per return. He said Due to covid 19 lockdown dealers have executed nil business, long term amnesty on bank loans will be declared, This will boost morale of business fraternity in these hard times.
He demanded a general amnesty to the traders for pending VAT (Value-Added Tax) liabilities.
KTA President said they were expecting lowering of interest rates on business loans among other benefits.
“There should be a lowering of interest rates on business loans. Moreover, we are expecting concrete steps so that we see overall business growth,” he said.