Asks Every Taxpayer To Come Forward And Contribute Towards Nation Building
Jammu- Asserting that Jammu and Kashmir has taken a giant leap in the industrial sector, Lieutenant Governor Manoj Sinha said on Wednesday that within two years the Union Territory administration has received investment proposals worth Rs 66,000 crores.
“Jammu Kashmir has taken a giant leap in the industrial sector and investments from big companies from India & abroad continue to flow into the UT for industrial activities. Within two years, we have received investment proposals worth Rs 66,000 crores,” Sinha said, after inaugurating the GST symposium and Tax awareness initiative ‘Kar-Tavya’ at the Convention Center here on Wednesday.
The GST symposium is being organized by the J & K State Taxes Department in collaboration with The Institute of Chartered Accountants of India.
“In the last 6 months, one industrial-business unit has commenced its operation every day. This reflects the true picture of new & aspirational Jammu and Kashmir,” he added.
Reiterating the government’s commitment to develop more land for industries, the LG said that every facility will be extended to 18 industrial estates in the future.
“I want more people from J&K to set up industries and avail benefit of industrial development scheme,” he added.
Earlier, the LG called for achieving the target of 100% GST tax coverage and asked every taxpayer to come forward and contribute towards nation building.
“GST realized the dream of One Nation, One Tax and guaranteed revenue flow to the states. I express my heartfelt gratitude to the business community and citizens of Jammu Kashmir for their cooperation & invaluable contribution in the development of J&K,” he said.
“It is imperative to ensure that economic growth through stabilization of the tax revenues is ensured at all levels. At the same time it should also be ensured that habit gets inculcated in every business enterprise & consumers to pay taxes with pride,” he added.
Observing that increased business activities are required for long term economic development and strengthening food security & generating employment opportunities, the LG highlighted the effective steps taken by the administration for improving Ease of Doing Business, facilitating the expansion of the existing units & setting up of new industries & businesses and extending the benefits of amnesty schemes.
“The reason for buoyancy in the revenue is due to several measures taken by the State Taxes Department like establishment of GST Facilitation Centers (GST Suvidha Kendras), District Level Awareness Programmes for the Stakeholders across the UT of J&K, Coordination Meetings between Central GST and UT GST authorities etc. The State Taxes Department has adopted a promotional approach rather than a regulatory one and is continuously focusing on capacity building,” Sinha said.
He said that systematic approach by the State Taxes Department to simplify the regulatory compliances has led to revenue augmentation and improved ease of doing business for the stakeholders.
“Such symposium and awareness drive will further stimulate the rate of compliance & productive capacity,” he said.
“We are following the Prime Minister’s mantra of Transform, Reform & Perform to build a prosperous & Atmanirbhar J&K. It is the collective responsibility of citizens and business enterprises to unlock potential and drive J&K’s economic growth,” he added.
Maintaining that the reforms and policies focus on protection and empowerment of the common man, the LG said that his administration’s long-term economic development policies are aimed at reducing inequalities for the welfare of society.
“Robust growth in business sectors will benefit society as a whole,” he added.
Responding to the demand of The Institute of Chartered Accountants of India for land for centre of excellence, the LG announced that the land will be allotted for the said purpose.
He further shared the vision of the UT Government for accelerating growth in various sectors.
“We are working with an integrated approach for development of all sectors,” Sinha added.