‘We will come up with a substitute GST that has all safeguards’
Srinagar, Jul 02 (KNS): Traders in Kashmir valley have formed a joint coordination committee to deliberate and evolve a consensus on a “substitute” Goods and Services Tax (GST) for the state, as state is likely to face crippling business in absence of the new tax regime.
All the trade bodies Sunday evening held a meeting here and formed Kashmir Coordination Committee which comprises of different trade unions of the valley.
A senior trader told KNS that trade bodies including Kashmir Chamber of Commerce and Industry, Kashmir Traders and Manufacturers Federation, Kashmir Economic Forum, Kashmir Manufacturers Federation and other trade bodies unanimously formed the committee on GST.
The trader said that the committee is meeting tomorrow at Grand Mumtaz where experts of the field will be present and will discuss an “alternate” GST that does not erode the fiscal and constitutional autonomy of the state.
The traders and Opposition political parties in the Kashmir valley are opposing extension of GST to the state in its present form and have been demanding an alternate GST that does not erode special status of the state.
“We will discuss all the issues related to the GST and will come up with a substitute GST that has all safeguards for our special fiscal and constitutional position,” the trader told KNS. (KNS)