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| Central Industrial Package for J&K: Jammu CCI compliment Omar, Kichloo | | | Early Times Report
Jammu, June 15 : President Chamber of Commerce and Industry (CCI) Jammu Y V Sharma and Secretary General Arun Gupta have complimented the Chief Minister and Industries and Commerce Minister Sajad Ahmad Kichloo on the announcement of Central Industrial Package for J&K. They also appreciated the efforts of the former Minister of Industries and Commerce S S Slathia for having taken keen interest for the continuation of the package which expired on 14 June 2012.
"We appreciate the efforts of state government and welcome the extension of package of incentives by the center. It is heartening that the service sector has also been included in this package. Though this sector was also covered in the earlier package but in the absence of guidelines, it could not be implemented. Guidelines for this sector need to be issued at the earliest," a statement of the Chamber said. "It is heartening to see the coverage of more items in thrust area in the manufacturing sector. However, it would have been more appropriate to notify all units falling in the green category under thrust area. This will help investment by locals and also help in dispersal of industry in rural and hilly areas," it added.
The statement said that it seems that this package by Government of India has been abridged. "It is for five years from 14 June 2012, one year has already expired so only four years are left. The sector of Industrialization should always be seen with long term perspective. This package should have been minimum for ten years from 14th June 2012," it said.
"Our major demand about the extension of Income Tax exemption and full refund of Central excise duty has not been met," the statement said. "Even the benefit of restricted excise refund on value addition to existing industry having done substantial expansion in terms of notification dated 6 February 2010 is being denied to the industry by the Central Excise department." The Chamber appealed to Chief Minister to personally take up the matter with Prime Minister regarding the extension of Income Tax exemption and Full Central Excise refund during his ensuing visit to State. |
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