Excelsior Correspondent
Srinagar, July 20: The Kashmir Chamber of Commerce and Industry (KCC&I) today held a meeting with Commissioner Taxes, Rashmi Singh, to address tax-related issues affecting the local trade community.
A spokesperson for the KCC&I said that during the meeting, both parties actively participated in constructive interaction, aiming to find solutions that would foster better understanding and collaboration between the KCCI and the Department. He said the KCC&I highlighted the challenges faced by the trade community, including complex tax regulations, cumbersome procedures, and ambiguities in taxation policies. “The KCC&I presented model case studies, showcasing the real on-ground challenges encountered by businesses in complying with existing tax laws. Dr. Reshmi Singh acknowledged these concerns and pledged to resolve them within her domain,” the spokesperson stated.
He said another significant topic discussed was the unwarranted 12% GST rate imposed on Shawls and other handicraft items. “The KCCI team emphasized that such a high GST rate on these products, which involve approximately 80% labour components, has led to a reduction in production and the unfortunate loss of jobs among weavers and artisans,” he said.
He said both the Commissioner of Taxes and KCC&I recognized the importance of fostering a transparent and business-friendly tax environment to support the growth of the trade community. The delegation was led by Senior Vice President Mr. Ashaq Shangloo and other executive committee members, including members Altaf Tramboo, Muzaffar Majid Jan, and Dr. Tauseef Bhat.
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