Grant economic package to Kashmir Inc in Budget 2022: KTA tells centre

Srinagar, 31-Jan: Ahead of the tabling of the union budget, the Kashmir Inc today said it is expecting special announcements for the Trade fraternity of Valley so that the Covid-Ridden business gets boost.Kashmir Trade Alliance (KTA) President Ajaz Shahdhar said they are hopeful that Union Finance Minister Nirmala Sita Raman would announce a series of measures so that the business sector of valley gets a sigh of relief.Shahdar reiterated with strong demand that amnesty scheme be announced for old GST Act 1963 and VAT Act 2005 arrears and GST council be enjoined upon to lessen late of GSTR 3B returns from 2000 to Rs. 500 per return.He said Due to covid 19 lockdown dealers have executed nil business, long term amnesty on bank loans be declared, This will boost morale of business fraternity in these hard times. He demanded a general amnesty to the traders for pending VAT (Value-Added Tax) liabilities.KTA President said they were expecting lowering of interest rates on business loans among other benefits.“There should be lowering of interest rates on business loans. Moreover, we are expecting concrete steps so that we see overall business growth,” he said.(CNS)