Early Times Report
Jammu, June 20: Several industrial associations have hailed the state government especially the Finance department for release of Rs. 100 Crores for disbursement of liablities of industrialists.
According to press release, a joint meeting of Industrial Associations of Bari Brahmana, Samba, Kathua was held today under the chairmanship of Lalit Mahajan, President BBIA in the presence of Vijay Aggarwal, President, Association of Industries, Samba, Ajit Bawa, President Kathua Industrial Units Association, Tarun Singla, Sr. Vice president, Ajay Langer Vice President, Viraaj Malhotra, General Secretary, Rajesh Jain Secretary, Vivek Singhal Treasurer (BBIA), Sandeep Mittal, General Secretary Kathua Industrial Units Association and other Members of the Associations.
The Members present in the meeting conveyed gratitude to AK Mehta(IAS), Principal Secretary Finance Department, PK Bhat, Commissioner State Tax Department for providing relief to the Industrial Sector of J&K by releasing of Rs. 100 crores for the reimbursement of State Fiscal incentives to the Industrial Units of J&K.
It was also resolved in the meeting that no fresh investment is coming in the State since the adoption of GST due to non availability of State Fiscal Incentives to Existing, New Units and Units under Expansion in respect of Reimbursement of CGST/SGST, 2% Reimbursement in lieu of CST due to rider of 2016-17 clause, State Freight Refund Scheme to the Units selling their products within 1000KM and other related Incentives.
They demanded extension of State Road Freight Refund Scheme upto 2026 for the dispatch of Finished Goods up to Destination instead of beyond 1000KM rider enabling the Industrial Units to explore the Market in Neighbouring States, 2% reimbursement in lieu of CST to all the Existing Units, Unit Under Substantial Expansion and New Units up to 2026 without any Rider of 2016-17 Interstate Sale against C Form to encourage the Interstate Sale, reimbursement of 100% CGST/SGST to New Units and Units under Substantial Expansion up to 2026.
They requested Governor, Advisors to kindly intervene in to the matter and constitute a high level committee to examine the whole issue on priority basis by threadbare discussions with stakeholders for the grant of State fiscal incentives to the industrial sector of J&K to attract the new investment in our state which will open the doors for the Employment Generation. |
