Srinagar: In a major development that comes as a relief to artisans and traders of Kashmir’s iconic shawls, Chief Minister Omar Abdullah has clarified that there will be no hike in GST on shawls this year. The CM addressed the matter on X (formerly Twitter), amidst growing speculation about potential taxation increases on these traditional products.
In his statement, the CM said:
“There had been a lot of speculation that GST on shawls will be hiked, so we had come prepared to ensure that wouldn’t happen. Thankfully, it wasn’t taken up, and we will also ensure that in the future also, something like this is not considered.”
Relief for Kashmir’s Handloom Industry
The announcement has been welcomed by artisans and stakeholders like business chambers in Kashmir’s handloom and handicraft industry, which is globally renowned for its exquisite shawls, including the prized Pashmina.
An increase in GST could have adversely impacted the industry, which is already grappling with challenges like dwindling demand, competition from machine-made imitations, and rising production costs, business chambers had pleaded.
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