Excelsior Correspondent
Srinagar Feb 25: The Kashmir Chamber of Commerce and Industry today opposed the imposition of property tax in Jammu and Kashmir at stage and urged administration to put it on hold.
A statement issued by the KCC&I said that a meeting of Executive Committee was held to discuss Governments decision to impose property tax in J&K.
“The KCC&I is of the opinion that imposition of property tax in the union territory is not advisable because of the sentiment of Trade, Commerce and Industry is low. The people are not in a position to bear the burden of paying the property tax at this stage,” the statement issued here said.
“The KCC&I believes that J&K has undergone a long spell of disturbed period during which time the businesses, citizens ate in to their assets and lifetime savings. And it is now that some sectors which have hugely suffered during last many decades have shown some signs of revival. It is worthwhile to mention that property Tax was levied in past as well but had to be withdrawn for obvious reasons,” the statement added.
The KCC&I has drawn the attention of authorities on the global sentiment of revival without further burdening them with taxes post Covid scenario. “the KCC&I is of the opinion that right now the economic scenario is not conducive to burden people with more taxes. Once the economic scenario stabilizes the Government may consider levying of property tax at that point of time after consultation with the stakeholders,” it said.
“More over the Union Territory of Jammu & Kashmir being land locked tier 3 Sate cannot justifiably be compared with the Delhi, Chandigarh or other UT or State’s, The KCCI appeals the administration to put the notified property tax on hold,” the statement added.
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