Excelsior Correspondent
JAMMU, Apr 9: The Chamber of Commerce and Industry has demanded that all the branches of J&K Bank be allowed to accept the VAT amount (Commercial Taxes) and other taxes.
The demand was made in a meeting of the Chamber during a course of general discussion today. The members of the Chamber urged the Finance Minister and Principal Secretary Finance to review the previous requests of the Chamber regarding acceptance of commercial taxes by the branches of J&K Bank located in Jammu city, as the traders are compelled to travel long distances to deposit the tax amount.
Some members of Chamber also raised the issue of extension of subsidy to the Industry which expired on March 31, 2012. They said Industry is also facing difficulty in Jammu and Kashmir because of locational disadvantage of the State.
The Chamber also sought to bring to the notice of the Government for development of new areas for industrial estates, which is the only way for growth of the State and to eradicate unemployment.
Discontinuation of subsidy to the existing industry will prove damaging for the growth of industry and development of the State, said a hand out of Chamber.
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