New tax regime welcome provided it doesn’t infringe JK’s special status: KCC&I

The KCC&I president, Mushtaq Ahmad Wani. (FPK Photo/Muneen Farooq Itoo)

It’s much bigger than trade for us as it effects our special status: KEA 

Srinagar: The Kashmir Chamber of Commerce and Industries (KCC&I) on Wednesday while reiterating their stand against the proposed Goods and Services Tax (GST) bill said that they strongly resists it’s extension and implementation in Jammu and Kashmir in it’s current form.

Takling to Free Press Kashmir, President of the KCC&I Mushtaq Wani pointed out that they do welcome any new law provided the financial autonomy of the state is not affected.

“We don’t have a problem with any new tax regime. The problem is that the GST bill, in it’s current from, will definitely erode our special status. If implemented in it’s current form, the state will surrender it’s financial autonomy to the GST council,”Wani said.

In a statement from the apex trade body, it was informed that the president and other representatives were called by the Chief Minister Mehbooba Mufti for a meeting over the issue on last Sunday.

“Mr Mushtaq Ahmad Wani, President, the Kashmir Chamber of Commerce & Industry (Inc) held the ground and strongly expressed its resistance to extension and implementation of the said GST law to the state on any pretext, giving legitimate reason for the same,” the statement said.

Mohammad Yaseen Khan, Chairman of the Kashmir Economic Alliance, while speaking to Free Press Kashmir said that for them the implementation of the bill is not a ‘trade’ issue at all.

“This is not a trade issue for us at all. It’s a political issue. This is what I told the Chief Minister also when she called us for a meeting. This is much bigger than trade as it (GST) will erode our special status,” Khan said.

KCC&I also in it’s statement maintained that the application of the law in JK will be a direct infringement with the special status.

“Extension of such laws to the state of J&K amounts to direct infringement with the special status of the state guaranteed and vowed to be maintained under Article 370 of the constitution of India,” the KCC&I observed.

The Kashmir Chamber of Commerce & Industry has made it clear in the meetings with the Chief Minister as also the State Finance Minister and has resolved that the said GST law “shall in no way be acceptable as it tantamount to erosion of the special status of the state of J&K”.

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