The Jammu & Kashmir Government has already taken up the matter of Goods and Services Tax (GST) issue with the Union Ministry for Commerce & Industry, requesting therein for lowering the rate structure from the existing 12 percent to 5 percent.
The government has also assured to safeguard the interests of Kashmir’s famed handicraft and handloom sector which is directly linked to the livelihood of lakhs of artisans associated with the heritage craft, an official spokesman said.
Responding to certain reports that have appeared in a section of the media about proposed revision of tax slab in the upcoming GST Council meeting, a Government spokesman today clarified that the UT Government has already taken up the matter with the Union Ministry for Commerce & Industry, requesting therein for lowering the GST rate structure from existing 12 percent to 5 percent uniformly, including shawls priced above Rs.1,000, to reduce the tax burden on this artisan-driven industry and support marketability.
The spokesman described Handicrafts as a labor-intensive industry that constitutes 80percent of the human workforce.
He further stated that all efforts shall be made to revive the handicrafts sector, keeping in view the stiff competition from global markets and machine-made imitations.
