Srinagar, Sep 4: Kashmir Traders and Manufacturers Federation (KTMF) has warmly welcomed the decision of the Goods and Services Tax (GST) Council to move towards a simplified two-slab GST structure, calling it a major reform that will benefit traders, entrepreneurs and the wider economy.
In a statement issued here, KTMF President Mohammad Yaseen Khan said the long pending demand of traders for simplification of GST has finally been acknowledged. “The introduction of two slabs will reduce unnecessary complications, make compliance easier and bring relief to small-time traders, shopkeepers and MSMEs. This step will surely improve the business environment and encourage greater economic activity at the grassroots level,” Khan said.
Khan noted that the complex multi-slab GST structure has for long remained a hurdle for small and medium businesses, particularly in regions like Jammu & Kashmir, where traders operate under extraordinary economic challenges. “A simplified tax system means less confusion, fewer disputes and more time for traders to focus on their businesses rather than paperwork,” Khan remarked.
Khan further stated that KTMF views this reform as a positive development for both traders and consumers. “By rationalising the slabs, the government is not only giving traders breathing space but is also helping stabilize consumer prices in the market. It is a welcome change that will inject confidence into the trading community and provide much needed support to economic revival,” Khan said.
At the same time, “KTMF sees this decision as the beginning of a new chapter in easing business in India and Kashmir must not be left behind. A simplified GST will help traders but a complete waiver on handicrafts is essential to protect our culture and empower our artisans.”
