Kashmir's horticulture, agriculture, tourism, and handicraft industries welcome the reduction in GST

Stakeholders in Jammu and Kashmir's horticulture, agriculture, tourism, and handicraft industries are thrilled with the revised GST slabs. The significant reduction in GST rates for various products has sparked widespread enthusiasm among local communities and businesses.

Apple growers, carpet and pashmina shawl artisans, and tourism stakeholders, including hoteliers, houseboat owners, and restaurateurs in Jammu and Kashmir, have expressed immense relief and optimism following the Prime Minister's announcement of reduced GST rates. The revised tax structure is expected to boost these vital industries, fostering economic growth and sustainability in the region.

"I want to personally thank the Prime Minister and Finance Minister of the country for this step. It will impact the tourism industry, the handicraft industry and the horticulture industry in Jammu and Kashmir in a big way. The hotel rooms will also have different GST Slabs, which will benefit the tourists and customers as the GST was always paid by the buyer,'' said Tariq Ghani, President, Chamber of Commerce, Kashmir.

The Horticulture and Agriculture industries in Jammu and Kashmir are poised for significant growth following a substantial reduction in GST rates. Tractor tyres and parts now attract a reduced GST of 5 per cent, down from 18 per cent. Additionally, tractors, bio-pesticides, drip irrigation systems, and agricultural and forestry machinery have seen their GST rates lowered from 12 per cent to 5 per cent. These changes are expected to enhance affordability, boost productivity, and support sustainable development in these critical sectors.

"The slash in the GST will be very beneficial for the farmers of India, including those in Jammu and Kashmir. We had been demanding it from the government for quite some time, and the Prime Minister announced it has brought a lot of happiness among the fruit growers of the Valley,'' said Ghulam Hassan, Apple Grower.

Residents of the Kashmir Valley have expressed great enthusiasm following the announcement of the new GST rates, though on-ground implementation is yet to begin. Retailers are facing challenges in adopting the revised rates. To address this, the Chamber of Commerce has planned to conduct workshops to train retailers, ensuring smooth and effective implementation of the updated GST framework.