Excelsior Correspondent
SRINAGAR, June 24: The Kashmir Chamber of Commerce and Industry (KCCI) and the Jammu Chamber of Commerce and Industry (JCCI) today strongly took up the issues of the traders and industrialists with the Finance Minister Haseeb Drabu in his office chamber here today.
A joint delegation of the KCCI and JCCI, comprising of president, KCCI Mushtaq Ahmad Wani, president, JCCI Rakesh Gupta and secretary general, Faiz Ahmad Bakshi (KCCI), called on Finance Minister today at Civil Secretariat and had detailed discussion regarding pending demands.
The delegation expressed concern over SROs issued in the context of online filing of VAT returns and online payment of taxes. Among other issues raised included the rationalization of taxes, GST regime, interest on PM’s package amount, negative behavior of Commercial Tax Department, roll back of increased VAT on consumables like packed milk, Lassi, juices, frozen foods, service tax on advertising companies, toll tax after 5% excess allowed under the Motor Vehicle Act, mechanism to get rid of the under value system adopted at Lakhanpur, entertainment tax on 3D, 5D and gaming zones, one time composite tax on banquet halls, enhancement in limit for composite tax for small traders/dabhas, service tax on contract labour.
The Finance Minister agreed in principle to maintain the existing rule of filing of online return and payment of tax above the turn over of Rs 50 lakh. He also agreed that he will issue necessary SROs in coming days about role back of taxes on consumables and other issues discussed in the meeting.
The Minister also agreed to issue SRO for charging 14.5% instead of 13.5% with effect from 01-07-2016. He assured that interest subventions for flood affected traders will definitely be released before Eid.
The Finance Minister assured that he will resolve the long standing matter of 7% interest subsidy under Prime Minister’s Rehabilitation Scheme of 2004 which has not been paid to the borrower hotel Industry since 2008 though the same had been received from the Central Government but diverted by the Department of Tourism.
The matter of implementation of GST and the concerns of the industry were brought to the notice of Finance Minister. He said that State will exercise its powers under the Constitution. He also added that the Government in association with KCCI and JCCI, will conduct free training programmes to educate the tax payer as and when GST regime will be implemented.
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