Kashmir Industry asks government end disparity in tax concessions

As the state government is approaching a new budget date on January 11, the Federation Chamber of Industries Kashmir (FCIK) is demanding that the disparity created by two SROs should be addressed at the earliest. They said some of the units are on the brinks of closure because pf the bag economic environment and the twin SROs are adding to their crisis.

“The government issued two SROs – No 519 and 521, under which they would be offering tax concessions in both CGST and SGST to select units operating in the state,” Mukhtar Yousuf, FCIK president said. “We are asking the government why it will not extend to these concessions – at least in the SGST, to the units operating in the state.” They said they are seeking full reimbursement on SGST on the full bill amount.

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