Jammu & Kashmir Bank has launched Add-on Working Capital GST, a special financing scheme to help the state industry cope with the delay in reimbursement of Goods and Services Tax (GST) under special tax relief.

This scheme was launched by J&K Finance Minister Syed Altaf Bukhari in the presence of Minister for Industry and Commerce Chander Parkash Ganga.

By ensuring healthy cash flow, this scheme will provide relief to industrial units in J&K that are facing stressed liquidity position due to Goods and Services Tax regime.

Under this scheme, revolving credit facility will be extended at the most competitive rate of 9 percent and that too with minimum documentation.