Associated Chamber of Commerce and Industries-Kashmir (CCIK) today said the government was taking “hasty steps” to implement Goods & Services Tax (GST) in Jammu and Kashmir. In a statement here today, the chamber said the government had sought suggestions from various traders’ organizations on the bands of rates. “The exercise is futile as GST cannot be implemented in J&K for the special status the state enjoys under Indian constitution.”
“The Steering Committee formed by the government (in this regard) for pondering over the issue of GST had almost nil representation from the trade organizations (sic),” it said.
“As regards Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI), we believe that Jammu & Kashmir Transfer of Property Act prevails over SARFAESI,” it said.