Pre-Budget consultations held
STATE TIMES NEWS
JAMMU: Minister for Finance, Dr Haseeb Drabu on Friday said the government would focus on consolidating the fiscal management initiatives outlined in the previous budget and setting off new reformative measures to ensure effective utilisation of the resources.
The Finance Minister was speaking during a series of pre-budget consultations with representatives of various business/trade organisations and other stakeholders here.
During the meeting, various suggestions and inputs were received from representatives of Chamber of Commerce and Industry (CCI) Jammu, Confederation of Indian Industry (CII), Transporters Association Jammu, Federation of Industries Jammu, Hoteliers Association Jammu, PHD Chamber of Commerce and Industry, Institute of Public Opinion, Intellectuals, Academicians, Tax Bar Association, Traders Federation, Agriculturalists, Fruit Growers Association Jammu, Poultry Farmers and Tourism Federation, Jammu.
The representatives of Chamber of Commerce & Industry (CCI), suggested for amnesty on account of faults in classification in VAT Act. They also asked for exemption of Service Tax on games zone and bringing power tariff for the hotels and service industry at par with industrial tariff, besides batting for amnesty on old recoveries wherein interest and penalty be waived off as one time settlement.
The CCI also demanded extension in amnesty on commercial power as was done for the domestic consumers, no further enhancement in Toll taxes and grant of freehold rights for industrial units with certain conditions.
The CCI president Rakesh Gupta also asked for having purchase preference rather than price preference in order to help local manufacturers, besides requesting a review of the Negative List of industrial units for VAT remission and amnesty in Labour Laws. He also requested for continuation of all incentives available to the units during existing regime after implementation of GST Act.
CCI Secretary General, Arun Gupta, Secretary Rahul Mahajan and Treasurer Ashu Gupta attended the meeting.
Meanwhile, Confederation of Indian Industry (CII) presented a memorandum of demands to Finance Minister including separate single window clearance agency for MSME, functioning of Lakhanpur toll post round the clock with introduction of POS machines to avoid payment in cash, opening of hospitals and schools in industrial belts of the state, cluster approach with specific master plan for MSMEs.
It also proposed launch of Chief Minister Start-Up Scheme to provide single window support to potential entrepreneurs, relaxation in various State-specific taxes for the start-ups.
Vice Chairman, CII J&K State Council Rahul Sahai requested the Finance Minister to take steps against proliferation of counterfeit and substandard products from neighboring states damaging the local industry as also availing the incentives.
The PHD Chamber of Commerce & Industry also shared their suggestions related to introducing zero tax budget, accelerated expenditure to channelize money into the economy and the government efforts in facilitating Public Private Partnership ventures.
The Transporters Association demanded that the there should be smooth movement of goods carriers at Lakhanpur and there should be distinction between dealers and transporters in case of penalty on goods, besides requesting for upgradation of Transport Nagar, Narwal.
Dr Drabu said the department would work on the mechanism to provide ease to the transporters in paying the penalty at Lakhanpur.
Federation of Industries, Jammu while presenting their demands said that some incentives should be provided to the industries to recover their losses due to the turmoil in valley which have adversely affected their production. They asked for fiscal incentives to industrial sector and extension of other incentives under GST regime.
In the meeting, Chamber of Traders Federation (CTF) asked for improved relations between traders and government for facilitating voluntary compliance. They also proposed new markets, mandis in addition to the existing ones in the context of latest demographic changes. The Fruit Mandi Association requested for VAT refund cases to be expedited and sought cooperation of the government for reviving walnut industry. Tourism Federation Jammu asked for special budgetary provision for assistance in organising education/training for tour operators, assistance for promotion, publicity and marketing, extension of pre-existing package including subsidy on transport and adventure sports. Commissioner Secretary, Finance Navin Kumar Choudhary, Commissioner, Commercial Taxes P. I Khateeb, Excise Commissioner, Tsering Angchok, Additional Commissioners Commercial Taxes, J&K and other senior officers were present in the meetings.
