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| CCI delegation calls on Union Minister of Steel | | |  Early Times Report
JAMMU, Oct 11: A delegation of Chamber of Commerce & Industry Jammu led by Arun Gupta, President and accompanied by Anil Gupta, Sr. Vice President, Rajeev Gupta, Jr. Vice President, Gaurav Gupta, Secretary General and Rajesh Gupta called on Union Minister of Steel, Ram Chandra Prasad Singh here today and discussed with him various issues and also submitted a representation.
The Chamber in its submission said that to meet the demand of ongoing local projects such as road widening, flyovers and bridges, at present the local contractors and the dealers have to import the required steel from outside the UT. In this context it is requested that Union Steel Ministry should install a big PSU Unit particularly in Jammu to meet the demand of local contractors and local dealers for supply of steel besides generation of employment at large.
The delegation informed that the yard of Steel Authority of India situated in Jammu which is feeding entire J&K is not fully operational due to availability of limited stocks, thus defeating the purpose for which it was established. It requested that all the stocks should be available in the yard of Steel Authority of India so that the registered units can take benefit of the same.
Before GST local scrap was sourced through SICOP which had notional entry for VAT. However after GST iron scrap is attracting 18% GST. This has resulted in large number of fake invoices being traded putting the secondary steel manufacturers in a legal tangle along with high cost of inventory. To curb this menace, scrap should attract 5% GST, it added.
The Union Minister assured to consider the demands and suggestions put forth by CCI and thereafter take the requisite measures in this direction. |
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