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| JCCI welcomes Union budget with some questions | | | Early Times Report
Jammu, Feb 1: Jammu Chamber of Commerce and Industries (JCCI) has welcomed various initiatives taken by Union government in union budget, especially the increase in defence budget, initiatives to uplift poor, massive spending on infrastructure beside others.
President Rakesh Gupta said that there should have been some relaxation in GST regime wherein services are being taxed as highest as 18% affecting every citizen of the country.
He also mentioned that some permanent solution of the farmers' income problem should have been considered by way of providing Budget for space and infra to sell their agriculture produce directly so that real value of their produce could be realized.
He also said that some interests subsidy subvention scheme should have been announced for the traders who are the major part of MSME sector and facing the worst because of implementation of GST especially in a state like Jammu & Kashmir where even "ONE NATION ONE TAX" after the GST has not been implemented by the State government.
The Chamber President raised doubts regarding the Union Budget announcements being implemented by J&K State Government considering the non-implementation of "ONE NATION ONE TAX" wherein a sum of Rs. 900 crores under the guise of state toll on Goods being collected in addition to the GST.
Reacting to the announcement that there shall be no Income Tax upto the income of Rs. 5 lacs the Jammu Chamber feels it is just a honey trap as it has been linked to a particular section in the Income tax act and shall not be a big relief or a permanent relief. |
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