A delegation of the Kashmir Chamber of Commerce and Industry led by it’s President Sheikh Ashiq Ahmad on Sunday met BVR Subrahmanyam, Chief Secretary, Government of Jammu and Kashmir and drew his attention towards issues of urgent nature which required immediate consideration of the state government
The spokesman said that the Kashmir Chamber of Commerce and Industry welcomes the prompt declaration of last week’s snowfall as a “Special Natural Calamity” and appreciates the urgency shown by the administration in initiating the process of assessment of losses. We hope that this would support the case of appropriate compensation and relief to the affected stakeholders.
The delegation urged him to expedite the process of implementation of Crop Insurance Scheme to protect Apple, Saffron, cherry, walnut and other crops of Kashmir Valley from all climatic incidences including snow and hailstorms.
The spokesman said that KCCI had taken up the issue of Reversal of Input Tax Credit of dealers for the stocks damaged in the September 2014 floods. The Chief Secretary Assured the delegation that the issue was being taken up with the State Administrative Council in its next meeting and would be sympathetically considered.
The issuance of order No. 434- FD pf 2018 dated 12, 10, 2018 which grants a final extension for depositing of 1st Instalment under Grant of Amnesty Scheme prescribed vide Order No.39-FD of 2018 dated 05, 02, 2018, read; with the subsequent five extensions. The last date for depositing of the installment would now be 14, 11, 2018. The amnesty relates to the settlement of unresolved issues in the previous VAT regime.
In this regard, KCCI requested Subrahmanyam to considered re-schedulement of the dates of the scheme which should come into effect from January 31, 2019.
The spokesman added that less than 10 months ago, the then Hon’ble Finance Minister on 11th of January, 2018 in his Budget Speech given on the floor of the Assembly had announced a number of measures aimed at “aiding the take-off of trade and business in the State”.
In addition, a number of measures from fiscal reforms aimed at building new systems for public expenditure management to incentives and exemptions for trade, commerce and industry especially Tourism, Horticulture, Handicrafts, Youth and other sectors were announced.
It was declared that Hotels and resorts will now have to pay the same power tariff as is applicable to the industries”, from “1st April 2018, but till date is not being acted upon.
Fiscal Reforms Measures like Budgetary Expenditure and Management System (BEAMS) System for payment of salaries and abolition of treasuries and replacing them with a Pay and Accounts (PAO) System was declared as a radical departure from the century-old system. The full system was promised to be rolled out in all departments of the Government by April 2018.
The declared objective of the System, given in Para 30 of the Budget Speech, was a reduction of cost of delivery and make it more efficient, it will also eliminate corruption.
The announcement of Rs. 5, 00 Crore for a comprehensive plan for marketing and supporting of the carpet industry of J&K. The delegation also requested Subrahmanyam to finalize the Srinagar Master Plan as soon as possible.