The Kashmir Chamber of Commerce and Industry (KCCI) has fervently appealed to CM Omar Abdullah, LG Manoj Sinha, and PM Narendra Modi about the potentially disastrous proposed GST slab raise on handicraft and textile goods.
The projected hike’s effects are worrisome for Jammu and Kashmir’s economy. Over 2.5 lakh artisans, many of whom are women and members of marginalised populations, are directly or indirectly employed by the textile and handicrafts industry, which is a vital part of the region’s economic and cultural identity.
The 28 per cent GST on products supplied from Kashmir to Delhi creates a heavy financial burden on dealers, who must bear the tax without guaranteed sales. With potential delays in selling, this tax could deplete the capital of small and medium enterprises, threatening the financial stability of traditional craft businesses.
KCCI has requested prompt action to stop this policy shift. The organisation asked that the existing GST rate be lowered to 5 per cent, emphasising on the particular difficulties faced by the local economy.
