KTMF pitches for simplified, trader friendly tax system

Representational Picture
Representational PictureFile

Srinagar, July 4: Kashmir Traders and Manufacturers Federation (KTMF) called for a simplified and trader friendly tax system here at a function on part of GST week celebrations.

The event was organised by the State Taxes Department with Stakeholders at Excise & Taxation Complex Solina.

President KTMF, Muhammad Yaseen Khan in his address to the officials of State Taxes Department said much more needs to be done to make GST a simplified and rationalised tax system. He said before the introduction of the GST business community was skeptical about its implementation as it would have adversities on our businesses due to the complex taxation system.

"We were promised in all the seminars and the meetings that during the first few years of the GST it will be treated as an educational period and no penal action will be taken on the trade for all small clerical mistakes done unintentionally. But surprisingly we are receiving all sorts of notices under all the possible sections of the GST rules," Khan said.

“GST must be easy to manage and also not increase the cost of doing business. While it may be frustrating to experience many issues and the potential impact on business, it is encouraging that the State Taxes Department is actively seeking to address the problems and find solutions. Continued communication and sharing of experiences between traders and the department will be essential in resolving these challenges and ensuring a more efficient and reliable taxation system in coming times. In this regard we propose that the Government organise a Stakeholders Consultation in every financial quarter with a view to offering feedback to the department. This consultative and collaborative approach is instrumental in making responsive and responsible policymaking”.

Besides Khan, KTMF was represented by Bashir Ahmad Kongposh, Lateef Ah Sofi and Qazi Tauseef.

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