Like our Facebook Page

news details

Existing MSME Sector of JKUT Ignored in the Industrial Package 2021 Prime Minister, Lt. Governors' intervention sought 2/22/2021 11:57:57 PM Early Times Report JAMMU, Feb 22: All stake holders of industrial fraternity of Jammu province has made appeal to Narendra Modi Prime Minister, Lt. Governor Manoj Sinha to save the existing micro & small scale industrial sector of JKUT from closer as the existing MSME sector and service sector totally ignored while granting the fiscal Incentives as per notification No F/1(1)2020-SSS DATED 19-02-2021 issued by Ministry of Industry & Commerce. Addressing a press conference Lalit Mahajan chairman Federation of Industries along with others Said that majority of MSME units set up by the sons of the soil working in the state facing militancy since last 30 years, with limited marketing avenues, Higher Production cost and keeping in mind the above facts, the Central/State Govt. provided Fiscal Incentives from Time to Time but with the introduction of GST, the Fiscal Incentives of State as well as Central Govt. has been diluted in Post GST Regime and only Incentives of IGST/CGST/SGST Refund on the Value Addition was given w.e.f 08-07-2017 to Existing units. Moreover no State Fiscal Incentive available to Units set up after 8th July 2017 resulting very limited growth reported against the IDS-2017 Scheme announced by Govt. of India. "We humbly appeal Prime Minister Narindra Modi, Lt. Governor Manoj Sinha for their kind intervention for the modification in the said Notification with the grant of Gross GST Reimbursement to Existing working Units and Units under Substantial Expansion also and 5% Interest Subvention to New Units and Existing Units under Substantial Expansion with the grant of following State Fiscal Incentives which are under the active consideration in the proposed New State Industrial Policy 2021 for Existing Units, Units under Substantial Expansion & New Units for their survival which also save the Local MSME Units from the stiff competition being faced from outside the State after the removal of Toll Tax   Share This News with Your Friends on Social Network     Comment on this Story

top stories of the day

Teachers asked get attendance certificates from sarpanchs On Mehbooba’s coronation day, absence of 2 senior leaders hints at yet another split Is it Chor Ki Dadhi Mein Tinka?: Mehbooba’s reaction to IGP’s veiled warning raises many questions Top BJP leader wants to be relevant on Kashmir! Agri diploma holders left in lurch, others get preference New machines gather dust at district hospital, helmsmen in slumber JK Govt pays all allowances to employees who discharged municipal, panchayat election duties No hike in school fee, Kapoor hails decision Cooperate with delimitation panel to ensure early Munish Gupta asks government to step in & solve problems of residents COVID-19 positive cases in JK reach 125925 following 58 fresh cases First case of H5N8 avian flu recorded in Anantnag, admins begins to collect samples 'Cafes, Restaurants in Sgr abuzz with several tourists visiting city from across the country'

STOCK UPDATE