The Biz Reporter
Srinagar, Jan 16 – The Confederation of All India Traders (CAIT) Kashmir Chapter, alongside heads of city centre markets in Srinagar, submitted a detailed memorandum to Sh. P.K. Bhat (JKAS), Commissioner of the State Tax Department, Jammu & Kashmir. The document outlines urgent measures needed to tackle the challenges currently confronting the retail sector. The Commissioner assured the delegation that their concerns would be addressed to facilitate smoother business operations and offer relief to traders.
Highlights of the Memorandum:
- One-Time Amnesty for Pending Taxes from the Old Tax Regime:
A request was made for a one-time amnesty to clear outstanding tax liabilities under the old regime, aiming to relieve traders while assisting the state government in settling long-standing dues. - Amnesty or Settlement for Initial GST Period Demands:
The memorandum called for amnesty or settlements concerning demands raised during the initial implementation phases of GST, which would alleviate the financial burden on traders adapting to new tax systems. - Relief Measures for Enhanced Compliance:
Suggestions included waivers for interest and penalties, extended deadlines for input tax credit, and reductions in litigation and pre-deposit requirements. These measures aim to foster compliance and ease the financial burden on traders. - Awareness Camps on GST Updates:
The proposal included establishing regular awareness camps and training sessions to keep traders informed about the latest GST updates and compliance requirements, especially pertinent as many transition to online selling. - Grievance Cell with CAIT Kashmir Representation:
The representatives recommended forming a grievance cell with CAIT Kashmir representation to ensure monthly meetings that effectively address traders’ concerns. - Regulations for Social Media-Based Selling:
With the rise of social media in commerce, the memorandum highlighted the necessity for regulations to prevent deceptive practices, safeguard consumers, and ensure fair competition among all traders engaging in online sales.
Assurance from the Commissioner: Commissioner Sh. P.K. Bhat assured the delegation that the issues raised in the memorandum would be thoroughly examined. He emphasized the department’s commitment to improving the ease of doing business and creating a supportive environment for the retail sector.
CAIT President Farhan Kitab said: “We appreciate the positive response from the Commissioner and remain hopeful for prompt action on the issues raised. Addressing these concerns is vital for fostering a resilient retail sector that aligns with the vision of Viksit Bharat.”
The CAIT Kashmir Chapter, along with city centre market heads, reiterated their commitment to collaborating with the government to promote sustainable growth within the trade community, particularly as they adapt to an increasingly digital marketplace.
