Srinagar, Oct. 30 -- The Bari Brahmana Industries Association (BBIA) has raised concerns that recent GST rate reductions on food products and corrugated packaging goods under GST Reforms 2.0 may lead to the closure of existing manufacturing units in Jammu & Kashmir (J&K).

At a meeting chaired by BBIA President Lalit Mahajan, association members said the cut in GST on finished goods - to 5 percent from earlier slabs of 12 percent and 18 percent - effective September 22, 2025, has eliminated reimbursement benefits available to units established before April 1, 2021 under the J&K Industrial Policy 2021-30.

According to the BBIA, newer units set up after April 2021 under the NCSS-2021 incentive scheme continue to receive full 5 percent GST ...