SRINAGAR, DECEMBER 20: Jammu and Kashmir government has asked the Union Ministry for Commerce and Industry to reduce GST on handicrafts from the existing 12 percent to 5 percent.
A government spokesman said the government has already taken up the matter with the Union Ministry for Commerce & Industry, requesting therein for lowering the GST rate structure from the existing 12% to 5% uniformly, including shawls priced above Rs.1,000. The government said its objective is to reduce the tax burden on this artisan-driven industry and support marketability.
The government assured to safeguard the interests of Kashmir’s famed handicraft and handloom sector, which is directly linked to the livelihood of lakhs of artisans associated with the heritage craft.
The spokesman described Handicrafts as a labor-intensive industry that constitutes 80% of the human workforce. He further stated that all efforts shall be made to revive the handicrafts sector, keeping in view the stiff competition from global markets and machine-made imitations.