Vice-Chairperson, Jammu & Kashmir state Industrial Development Corporation (SIDCO), Subash Jandial welcomed the decision for the extension of tax benefits to the State of J&K for the next ten years.
Subash Jandial, while welcoming the decision of Union cabinet, said that the State of Jammu & Kashmir was being provided with certain remissions in the tax structure along with the North-Eastern States, which ceased to exist after the implementation of Goods and Services Tax (GST) all over India including the State of J&K. He expressed his gratitude towards the Prime Minister of India, Narendra Modi and Finance Minister of India, Arun Jaitely for their kind consideration to continue with the tax benefits for the state. He also appreciated the efforts of Industries Minister of J&K, Chander Prakash Ganga in the matter.
He said that the J&K State is a chiefly consumer state where the Industry has to chiefly depend upon the outside support for the supply of the raw material as well as the manpower required for the purpose. He also mentioned about the limited market for the locally produced good. The trading and the manufacturing was adversely hit in the region after the implementation of the law, which has now been rectified by the timely intervention of the Central as well as the State Governments giving relief to the industrial sector of the State, he added.
