Industry body appeals Jammu and Kashmir administration to put property tax on hold

The Kashmir Chamber of Commerce and Industry (KCCI) on Saturday appealed the Union Territory administration to put the imposition of property tax on hold as the economic scenario "is not conducive to burden people".

The KCCI held a meeting of its Executive Committee to discuss the government's decision to impose property tax in J-K.

"KCCI is of the opinion that imposition of property tax in the union territory is not advisable because of the sentiment of trade, commerce and industry is low. The people are not in a position to bear the burden of paying the property tax at this stage," KCCI Secretary General, Faiz Ahmad Bakshi, said in a statement here.

He said the KCCI believes J-K has undergone a long spell of a disturbed period during which time the businesses and citizens ate into their assets and lifetime savings.

"And it is now that some sectors which have hugely suffered during the last many decades have shown some signs of revival. The property tax was levied in past as well but had to be withdrawn for obvious reasons," he said.

KCCI is of the opinion that right now the economic scenario is not conducive to burden people with more taxes, the statement said.

"Once the economic scenario stabilizes, the government may consider levying of property tax at that point of time after consultation with the stakeholders. Moreover, J-K being landlocked tier three state cannot justifiably be compared with Delhi, Chandigarh or other UT or states, the KCCI appeals the administration to put the notified property tax on hold," Bakshi said.