Srinagar: The Kashmir Traders and Manufacturers Federation (KTMF) has welcomed the Goods and Services Tax (GST) Council’s decision to move towards a simplified two-slab structure, describing it as a long-awaited reform that will benefit traders, small businesses, and consumers alike.
In a statement to Ziraat Times, KTMF President Mohammad Yaseen Khan said the simplification of GST had been a long-standing demand of the trading community. “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.
He noted that the complex multi-slab GST regime had posed persistent challenges for small and medium enterprises, particularly in Jammu and Kashmir where traders operate under difficult economic conditions. “A simplified tax system means less confusion, fewer disputes and more time for traders to focus on their businesses rather than paperwork,” Khan remarked.
The KTMF President added that the reform would also benefit consumers by stabilising prices and easing market pressures. “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,” he said.
While hailing the reform as a “new chapter in easing business in India,” Khan also called for a complete waiver of GST on handicrafts to safeguard Kashmir’s cultural heritage and empower artisans.
