J&K govt, biz seek 5% GST on handicraft items
NEW DELHI: Jammu & Kashmir govt has sought lower GST on handloom and handicraft products in a move aimed at making pashmina shawls and silk carpets more affordable for Indian buyers.
Currently, handloom and handicrafts items that cost Rs 1,000 or more attract 12% tax, and the proposal is to lower the levy to 5% on all products.
Responding to the demand, Union minister Piyush Goyal suggested the businesses should take up the issue with the finance ministry. "We will try to reduce it. We will try to find a way," he said at an industry event. The proposal for pashmina shawls has been with the GST Council for several months and even CM Omar Abdullah had raised it in Jaisalmer in Dec.
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