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news details
BBIA expresses concern over decline in industrial growth
11/29/2018 10:08:27 PM
Early Times Report
Jammu, Nov 29: Bari Brahmana Industries Association (BBIA) has expressed concern over the decline in industrial growth in the state.
According to press release, a meeting of BBIA was held today under the President ship of Lalit Mahajan and was attended by Ajay Langer General Secretary, Vivek Singhal Secretary and Viraaj Malhotra Treasurer and other members.
The discussed the sharp decline reported in the Industrial growth in the State of Jammu & Kashmir in post GST regime due to non availability of fiscal Incentives to the New inits and units under Substantial Expansion resulting flight of Capital from J&K State to other States nearest to the market.
The position is more serious as due to non availability of the job avenues in State, the educated youths have no option but to shift to other parts of the Country to earn their Bread and Butter and we fear that in case immediate remedial measures not adopt by the Central/State Govt. for the grant of fiscal incentives at par with the North Eastern States, they said.
In respect of Freight Subsidy Scheme, the benefits available for the dispatch of finished goods available only after the sale of Goods beyond 1000km resulting it is not possible for the MSME Units from Kashmir/Jammu to avail the Incentive for the sale of their goods in the neighbouring States of Punjab/Haryana/ Himachal Pradesh and National Capital Delhi.
It is the need of the hour to provide the 2% IGST to all the Working Units and Units under Expansion for the Interstate of Goods and also Freight Subsidy for Interstate Sale of Goods up to destination, reimbursement of 42% CGST and adequate budgetary support to MSME units having annual Turnover less than 1.5 Crores prior to GST for their survival, they said.
They appealed Governor Satya Pal Malik and Kewal Krishan Sharma Advisor to Governor to kindly intervene to resolve the issue of MSME sector on priority basis.
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