Excelsior Correspondent
JAMMU, Jan 28: The Federation of Automobile Dealers Associations Jammu (FADA) today presented its pre-budget memorandum to the Chief Minister of Jammu & Kashmir.
The memorandum was presented in detail by Sanjay Aggarwal, Chairperson FADA Jammu and Managing Director Jammu Motors Pvt Ltd.
Aggarwal briefed in length the suggestions, proposal ,measures to be taken that will help the automobile sector to grow in J&K and will also bring substantial revenue for J&K Government.
He shared that by adopting the measures suggested Additional Sales of vehicles will grow up to +14 % which will also Increase the Revenue to the Government of J&K ( Road Tax: +166 Cr , SGST +149 Cr)
Aggarwal very much appreciate the Government of J&K for the 3% additional tax imposed on Registration of vehicles coming from outside in J&K which has bought positive results. He request that this tax should be increased further upto 5% and commercial vehicle should also be included in this tax slab to plug the further revenue loss to the Government of J&K.
Aggarwal said that the GST imposed on Road Tax should be stopped. Double taxation is not permissible as per laws.
He requested Government to reconsider this decision of levy of road tax on GST component of invoice value of vehicle in the interest of general public of the region. Aggarwal proposed the formation of an automobile service center cluster in the industrial area of various districts of the Jammu and Kashmir region.
A designated area in the industrial estate should be earmarked for formation of Cluster for Automobile service Centre.
At last Aggarwal said that FADA reaffirmed its commitment to work closely with the Government of Jammu & Kashmir and to actively support implementation of policies and reforms that ensure overall development of the UT.
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