June 2017 News
Trader's Amalgam Calls For J&K Bandh Against GST Bill15 June 2017
Srinagar: Kashmir Traders and Manufacturers Federation (KTMF) and Kashmir Traders Federation (KTF) Thursday called for 'Jammu and Kashmir Bandh' on Saturday in view of anticipated implementation of Goods and Service Tax (GST) in Jammu and Kashmir. President of KTMF Mohammad Yasin Khan at a press conference said, 'We have given a call for Jammu and Kashmir Bandh on Saturday against the proposed implementation of GST. If this bill will be implemented here, it will erode our special status and our financial autonomy.' 'KTMF will hold sit-in protest demonstration on Saturday at Lal-Chowk - the commercial hub of Srinagar.' He added Yasin Khan asserted to have received support for the strike call from the traders of Pir Panchal and Chenab valley, hitting hard on the GST bill at the press conference the amalgam strongly condemned and registered their protest against the GST bill. Lamenting on the GST issue Khan said, 'Jammu and Kashmir have a special status and we don't believe in one India one Tax as we have a separate constitution and special status that we will not compromise by allowing the government implement the GST bill.' Meanwhile, the Members of Kashmir Traders Federation (KTF) during a meeting in Yambarzal mall on Thursday also said that they are going to hold a sit-in protest demonstration outside the assembly on Saturday against proposed implementation of GST. Chief spokesperson of KTF, Ajaz Shahdhar said, 'They will not compromise with the Article 370 which gives a special financial status to Jammu and Kashmir as if the government will implement the GST here, the Article 370 will be eroded which they will not allow to happen at any cost.' However the KTF has also urged the local transporters, traders to support the call. Joint Resistance Leadership comprising Syed Ali Geelani, Mirwaiz Umar Farooq and Muhammad Yasin Malik on Wednesday strongly opposed the Goods and Services Tax Act, saying 'it is being implemented in the state at the cost of the business community to cripple the economy of Kashmir.' Goods and Services Tax (GST) is an indirect tax throughout India to replace taxes levied by the central and state governments. It was introduced as The Constitution (One Hundred and Twenty-Second Amendment) Act 2017, following the passage of Constitution 122nd Amendment Bill. The GST is governed by GST Council and its Chairman is Union Finance Minister of India - Arun Jaitley. GST is expected to be applicable from 1 July 2017.