'Govt will keep interest of stakeholders in mind'

GST implementation

GK NEWS NETWORK

Jammu, Jan 19: Minister for Finance Abdul Rahim Rather today said the interests of all the stakeholders as well as the overall revenue interest of the state will be kept into consideration during implementation of the proposed Goods and Services Tax (GST) regime in J&K.
 The minister said the GST will be a comprehensive reform in the existing tax laws and tax management system, an official statement said.
 The minister was speaking at a pre-budget meeting with the members of trade and industry here today.
 The members of the Trade and Industry while thanking the Minister for giving them an opportunity to present their views before finalizing next year’s budget proposals presented memorandum of demands.
 The main issues raised in discussions included removal of discrepancy under VAT between J&K and other neighbouring States, Tax/VAT concessions on paddy, rice, wheat, pulses, Flour Atta Maida, CFL Tubes (Energy savers), dry whole milk, dry fruits, puja articles and Samgari.
 The traders also demanded to formulate a trade policy, creation of new warehouses/wholesale markets and institutional areas in Jammu, creation of new industrial estates, abolition of negative list, VAT remission to Industry, land ownership rights to industrial units, power amnesty scheme for revival of sick units, separate tourism/pilgrimage projects for Jammu province, new industrial policy for tourism and measure for making Jammu as an independent tourist destination.
 The 30 member delegation of CCI that participated in the discussions was led by its President Y.V. Sharma and Ravi Mahajan whereas 13 member delegation of CII was represented by Vicky Mahajan and Sanjay Puri.

Lastupdate on : Sat, 19 Jan 2013 21:30:00 Makkah time
Lastupdate on : Sat, 19 Jan 2013 18:30:00 GMT
Lastupdate on : Sun, 20 Jan 2013 00:00:00 IST




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