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| Sanjay Aggarwal, Chairperson FADA, presented Pre Budget Memorandum | | |  Early Times Report
JAMMU, Jan 28: In an invitation by Hon'ble Chief Minister of Jammu & Kashmir, Omar Abdullah, for the stakeholders' interaction on Budget 2026-27 to be held in Jammu, Federation of Automobile Dealers Associations Jammu (FADA) presented its Pre Budget Memorandum to the Hon'ble Chief Minister of Jammu & Kashmir. The memorandum was presented in detail by Sanjay Aggarwal, Chairperson FADA Jammu and Managing Director Jammu Motors Pvt Ltd.
Aggarwal briefed in length the suggestions, proposal ,measures to be taken that will help the automobile sector to grow in J&K and will also bring substantial revenue for J&K Government. He shared that by adopting the measures suggested Additional Sales of vehicles will grow up to +14 % which will also Increase the Revenue to the Government of J&K ( Road Tax: +166 Cr , SGST +149 Cr)
Aggarwal very much appreciate the government of J&K for the 3% additional tax imposed on Registration of vehicles coming from outside in J&K which has bought positive results. He request that this tax should be increased further upto 5% and commercial vehicle should also be included in this tax slab to plug the further revenue loss to the Government of J&K.
Aggarwal put forth the issue of disproportionately highest Value Added Tax (VAT) levied on Compressed Natural Gas (CNG) in the Union Territory of Jammu & Kashmir as compared to neighboring States and Union Territories and request that the government of J&K to reconsider and rationalize the VAT on CNG in line with the rates prevailing in neighboring states and UTs. Such a step would not only promote environmental conservation but also provide economic relief to the consumers.
Aggarwal shared that the End-of-Life Vehicles - ELVs which are coming for re-registration from other states in the Union Territory of Jammu & Kashmir are leading to regulatory concerns. He propose the introduction of a Green Tax @ 5% on the original value of the car on such unsafe and unfit polluting vehicles would be a progressive and environmentally responsible step that reflects the UT's commitment to sustainable development and public health. Imposing this tax shall bring 100cr annual Incremental Revenue for the UT of J&K
Aggarwal said that the GST imposed on Road Tax should be stopped. Double taxation is not permissible as per laws. He requested government to reconsider this decision of levy of road tax on GST component of invoice value of vehicle in the interest of general public of the region.
He requested that EV charging infrastructure must be an integral part of the Jammu Smart City Project and EV charging Stations should be installed under National Clean Air Programme (NCAP). Such an initiative would not only enhance urban mobility but also position Jammu as a leader in adopting sustainable and futuristic transportation solutions. At present J&K is lacking in providing EV infrastructure to the consumers he added.
Aggarwal proposed the formation of an automobile service center cluster in the industrial area of various districts of the Jammu and Kashmir region. A designated area in the industrial estate should be earmarked for formation of Cluster for Automobile service Centre.
He shared that Automobile dealers of J&K are ready to invest in for setting up their service centers in such clusters. Such a initiative will provide:
Employment opportunities to the local youth at district level
Help in skill development of the youth
Provide better services to the customers
Overall growth of the district
At last Aggarwal said that FADA reaffirmed its commitment to work closely with the Government of Jammu & Kashmir and to actively support implementation of policies and reforms that ensure overall development of the UT of J&K. |
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