Says Matter Taken Up For Lowering GST Rate Structure
Srinagar: The Jammu & Kashmir Government has assured to safeguard the interests of Kashmir’s famed handicraft and handloom sector, which is directly linked to the livelihood of lakhs of artisans associated with the heritage craft.
Responding to certain reports that have appeared in a section of the media with regard to proposed revision of tax slab in the upcoming GST Council meeting, a Government spokesman today clarified that the UT Government has already taken up the matter with the Union Ministry for Commerce & Industry, requesting therein for lowering the GST rate structure from existing 12% to 5% uniformly, including shawls priced above Rs.1,000, with the objective of reducing the tax burden on this artisan-driven industry and supporting marketability.
The spokesman described Handicrafts as a labour-intensive industry which constitutes 80% of human workforce. He further stated that all efforts shall be made to revive the handicrafts sector, keeping in view the stiff competition from global markets and machine-made imitations.
The Group of Ministers (GoM) on Rate Rationalisation, led by Deputy Chief Minister of Bihar Samrat Chaudhary, has recommended a dramatic GST rate escalation that would raise taxes on Kashmiri shawls, crewel items, and other textile products from the current 12 percent to 28 percent for items priced above Rs 10,000.