SRINAGAR: Trade across the Line of Control (LoC) would resume next week — after remaining suspended for about a month — following assurances from Jammu and Kashmir Chief Minister Omar Abdullah that trader's demands would be considered.
On Thursday, Mr. Abdullah convened a high-level meeting to discuss the demands. Sources told TheHindu that the government had in principle agreed to waive the Value Added Tax on trade, which was the main demand.
“Since the Assembly is not in session, an Ordinance is likely to be issued to amend the VAT Act,” sources said.
General secretary of the J&K Chambers of Cross-LoC Trade, Hilal Turkey, said the Chief Minister told them he would not wait for the Assembly session to implement VAT relaxation. “He [CM] assured us the issue will be settled in the Cabinet,” Mr. Turkey said. “We will resume the trade through Salamabad-Chakoti and Poonch-Chakandabagh routes from Monday [June 27].”
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