Category: Business

Business

Post 2016 Unrest, Business slump continues in Kashmir

Editor

Prevailing uncertain situation coupled with cascading shift in economic policy – such as demonetization and implementation of GST – at the central government level has robbed Kashmir of yet another peak business season. While expressing concern over a continuing slump in business, Kashmir-based industry and trade leaders are now pinning all their hopes on a bumper apple harvest this year, which they believe will provide some succor to the state economy if the market for this cash crop remains good. Kashmir exports apples and other fruits worth Rs 5,000 crore…

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Consumers burdened with double taxation as Govt refuses to withdraw toll tax

Editor

The consumers are facing double taxation after the introduction of goods and services tax (GST) over two months back as the government has continued with the toll tax in the state. The toll tax remains even as GST was promised to bring in a single tax administration across India. The PDP-BJP government had agreed to impose GST promising that this will provide relief to consumers by making goods or new services cheaper. However consumers face dual tax. State’s Excise department has collected the toll tax levied on goods brought in…

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Rs 1100 cr loss in a year, Kashmir tourism continues to bleed

Editor

Hizbul Mujahideen commander Burhan Wani’s killing on July 8 last year and subsequent unrest have cost Kashmir’s hotel industry Rs 1,100 crore. Javid Amin, 40, looks pensive at his Spartan office in Srinagar. For the last one year, Javid, who owns JKL Travels / Kashmir Travels, has been struggling to pay wages and meet daily office expenses. In the last one year, the number of annual bookings fell to 30 from 300. Javid has suffered a loss of Rs 15 lakh this year alone. “We have become defaulters because we…

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Kashmir Chamber to Jammu Chamber, Reconsider Strike Call

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The Kashmir Chamber of Commerce and Industry (KCCI) on Sunday urged its Jammu counterpart to reconsider its strike call for Monday. The JCCI on Saturday gave a Jammu bandh call to press for its various demands, including abolition of toll tax. “We would urge you to reconsider your call for a shutdown as we believe that being apex trade bodies we should seek to promote the resolution of problems through dialogue and not be seen as promoters of business interruptions,” KCCI president Javed Ahmed Tenga told reporters at a press…

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Time for Private players & Tourism Deptt to launch joint promotion campaign: Dir Tourism

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TAAK elects Ashfaq as its new President Calling the tourism stakeholder to launch aggressive marketing campaigns, the Director Tourism Kashmir Mahmood A Shah Saturday said the department is trying to counter negative perception and media publicity through a multi-pronged strategy He was speaking as a chief guest at 9th Annual General Meeting of the Travel Agents Association of Kashmir here at Hotel New Park. In the AGM, TAAK elected Ashfaq Siddiq Dug as its new President. Director Tourism Kashmir while welcoming the new TAAK body appreciated the role of the…

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Contractors threaten boycott of developmental works: GST Fallout

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While threatening to stop ongoing developmental works, Jammu and Kashmir Central Contractors Coordination Committee (JKCCCC) Tuesday demanded release of outstanding Rs 350 crore from the state government. JKCCCC has also opposed the “cumbersome process” of filing of returns under Goods and Services Tax and demanded annual payment of tax rather than multiple filing of returns. An emergency meeting of JKCCCC was held here on Tuesday, in which these issues were discussed. Farooq Ahmad Dar, general secretary, JKCCCC told Kashmir Post that the new tax regime will make payment process for…

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Amitabh Bachchan, Hema Malini promote oneness for Kashmir

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Bollywood megastar Amitabh Bachchan and veteran actress-politician Hema Malini have featured in “Vaadi-e-Kashmir”, a short film aimed at spreading the message of oneness. “As an Indian, this film is my attempt to reach out to Kashmir and touch the hearts of our brothers and sisters in the valley,” Hema, who has also curated the film, said in a statement. “Vaadi-e-Kashmir”, which captures the valley’s beauty and people, is supported by KENT RO Systems Ltd, and has music and lyrics by Shankar-Ehsaan-Loy and Gulzar. It is directed by filmmaker Pradeep Sarkar…

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Transporters call 2 Day ‘Wheel Jam’ for shifting of batamaloo bus stand from today

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To protest the shifting of Batamaloo General Bus Stand to Parimpora on city outskirts, Kashmir Transporters Welfare Association (KTWA) has called for a two-day strike of buses and mini-buses from Wednesday, 6th September. Spokesperson KTWA Mukhtar Ahmad on Tuesday said shifting of Batamaloo bus stand has “adversely affected” livelihood of thousands of people associated with commercial vehicles and businesses operating around the erstwhile bus stand. “The government should stop playing around with lives of transporters and traders. It has been decided that a Chakka Jam of buses and minibuses will…

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GST ‘Troubles’ keep Eid shoppers away from Kashmir markets

Editor

Traders say still adapting to new tax regime; Import of goods witnesses a decline With just three days left for Eid-ul-Adha or the festival of sacrifice, markets in Kashmir are yet to be fully abuzz with shoppers as factors like the recent implementation of Goods and Services Tax that has led to less import of goods to the Valley have proved to be a dampener. While traders and businessmen are hoping for footfalls to increase in next couple of days, they say an average rush of shoppers is doing no…

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Night flights from Srinagar to start soon: Govt

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The state government is all set to start night flights from Srinagar Airport after the Airport Authority of India and Indian Air Force gave security clearance and approval for the 24×7 flights. Divisional Commissioner, Kashmir, Baseer Ahmad Khan today convened a meeting to review the modalities for starting round-the-clock flights from the airport. The operations of night flights from Srinagar Airport have been a long-pending demand of Kashmiri people. The process to start night flights picked up in May 2013 when the AAI and IAF gave the permission to the…

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