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| BBIA appeals for issuance of notification of approved budget proposals | | | Early Times Report
Jammu, May 9: Bari Brahmana Industries Association (BBIA) has appealed state government to issue notification of approved budget proposals issued for industry sector of the state. A meeting of members of the Bari Brahmana Industries Association was held today under the Chairmanship of Lalit Mahajan Chairman Federation of Industries Jammu & President BBIA in the presence of Suresh Mahajan Sr. Vice President, Varun Singla Vice President, Ajay Langer General Secretary, Vivek Singhal Secretary, Viraaj Malhotra Treasurer BBIA & members of BBIA in which the Members present in the meeting discussed the issue in respect of Non Issuance of respective Notifications for the Budgetary Support to the Industrial Units of J&K as approved in the State Budget proposals 2018-19 which includes suitable amount of Incentives in lieu of 2% CST and Freight Subsidy for the Interstate Sale of goods.
It is pertinent to mention here that prior to GST Regime, the CST was exempted as an Incentive on the Interstate sale on goods by the Industrial Units to compensate the additional cost of Raw Materials and keeping in mind the above facts, POST GST Budgetary support was approved in the State Budget 2018-19 for the refund of Suitable amount in lieu of 2% CST.
In respect of Freight Subsidy Incentive, as approved in the Budget Proposal 2018-19, the same was considered keeping in mind the additional cost for the dispatch of Finished Goods for Interstate Sale by the Industrial Units of J & K to compete with the Units located in the other parts of the Country and also to provide the relief to the Units working on Job Work basis prior to the GST Regime. BBIA appealed Chief Minister Mehooba Mufti and other leaders to kindly intervene in to the matter for the issuance of pending notifications of budgetary support to the industrial units. |
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