STATE TIMES NEWS
JAMMU: The delegation of the Chamber of Commerce & Industry (CCI), led by its President Arun Gupta, met with Commissioner /Secretary Industries and Commerce, Vikramjeet Singh, to discuss the challenges faced by industrial units in Jammu and Kashmir (J&K) UT.
Arun Gupta highlighted several issues and made specific requests for the benefit of the industry in the region.
Arun emphasized the unique challenges faced by J&K UT due to its geographical location at the border and the impact of militancy and cross-border terrorism.
This, he argued, leads to high input costs and production expenses for the industry.
While acknowledging the incentives provided by the J&K UT and central governments for existing and new industries, Gupta pointed out hurdles that hinder the effective implementation of these incentives. He urged the authorities to remove these obstacles to facilitate the industry.
Gupta requested an extension of the validity period for provisional registration benefits, particularly for units facing delays in starting production due to issues like road connectivity, electricity, and water supply.
The CCI President highlighted that turnover incentives announced by the government for existing industries had not been disbursed. He requested the prompt release of these incentives for the years 2021-22 and 2022-23.
Arun raised concerns about industrial units facing challenges in filing SGST refund claims on time, leading to their exclusion from incentives. He requested additional time for filing these claims.
The delegation demanded gross GST reimbursement incentives for existing industries undergoing substantial expansion to enhance their viability. Due to high commercial rates, Gupta urged the introduction of separate market value/stamp duty rates for industrial categories. He specifically called for a separate clause for land value/stamp duty rates for industrial units.
The delegation proposed that there should be no negative list for industrial products manufactured by registered units to support their viability.
Gupta suggested a scheme allowing ownership rights for leasehold industrial land to local entrepreneurs after a specific period, with a nominal conversion fee. The CCI President recommended that 50% of the land developed for industries should be reserved for micro-industries.
Gupta also proposed providing price/purchase preference to local micro and small industrial units and reimbursement of road freight incentives for their supplies.
In response, Commissioner/Secretary Industries and Commerce, Vikramjeet Singh, assured the delegation that the government would address the concerns raised, including providing turnover incentives, resolving SGST refund issues, and ensuring equitable land development for micro and small industrial units.
The other office bearers who accompanied the delegation include Anil Gupta, Sr. Vice President, Rajeev Gupta, Jr. Vice President, Manish Gupta, Secretary General and Rajesh Gupta, Secretary.