STATE TIMES NEWS
JAMMU: A delegation of industries stakeholders led by Lalit Mahajan, President BBIA met Sat Sharma, State BJP President and Ashok Koul, BJP State General Secretary and discussed the fiscal incentives sanctioned by State Government by providing relief to the industrial units of J and K with the refund of 100 per cent SGST, 42 per cent balance CGST under the Central Government Package and budgetary support in lieu of CST on the Interstate sale immediately.
The members present in the meeting expressed resentment in respect of non-issuance of guidelines of the notifications issued on October 25, 2017 by the State Government for the extension of state package of incentives under GST regime due to which uncertainty is still prevailing in the mind of industrial units of J and K who are totally dependent on the sale of their products within the State.
It is pertinent to mention here that the unit holders are facing acute financial crisis due to deposit of SGST and CGST since last four months resulting blockage of Working Capital Limits and any further delay in the issuance of guidelines of state notification by the State Finance Department will convert the industrial sector of the State as non functional in coming months resulting mass scale retrenchment of the industrial workers in near future.
The delegation requested the Chief Minister, Mehbooba Mufti, Deputy Chief Minister, Dr Nirmal Kumar Singh, Industries Minister Chander Parkash and Finance Minister Dr. Haseeb A Drabu to kindly intervene in to the matter for issuance of requisite guidelines in respect of State package of incentives to regain the confidence of the existing units and also open the doors for the fresh investments in the State to open the employment avenues for the youths of the State.
The delegation comprised of Vijay Aggarwal, President Association of Industries, Samba; Ajit Bawa, President Kathua Industrial Units Association; Deepak Dhawan, President Birpur Small Scale Industries Association; Suresh Mahajan, Senior Vice President BBIA; Ajay Langer, General Secretary BBIA; Vivek Singhal, Secretary BBIA and Viraaj Malhotra, Treasurer BBIA.
