BBIA urges for grant of fiscal incentives to existing units at par with new units under NCSS Scheme

By
Daily Excelsior
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Excelsior Correspondent
JAMMU, Aug 19: Bari Brahmana Industries Association (BBIA) has requested the Government for grant of fiscal incentives to existing industrial units and units under the substantial expansion after 01-04-2021 at par with incentives to new units under NCSS-2021 Scheme of Government of India.
The issue was discussed in detail during a meeting of BBIA held under the presidentship of Lalit Mahajan in presence of Tarun Singla (senior vice president), Ajay Langer (vice president), Viraaj Malhotra (general secretary), Rajesh Jain (secretary), Vivek Singhal (treasurer, BBIA) and other members.
During the course of discussions, the members present in the meeting highlighted that in past prior to GST Regime, all the fiscal incentives at par with the new units always granted to the existing units also under substantial expansion as per the previous notification of Government of India/State Government since 2002 onwards till IDS Scheme 2017 by the virtue of which all the fiscal incentives always applicable to existing units under substantial expansion whereas under the NCSS 2021 the fiscal incentives in the shape of reimbursement of gross GST reimbursement not applicable to existing units if they go for the substantial expansion after 01-04-2021 resulting numbers of existing units already in the process of closing down their units or shifting to other parts of the Country as it is not possible for them to compete with the new units in near future.
The BBIA members said that the matter was taken up with DPIIT but the same was denied with the remarks that the matter shall be taken with the State Government for the grant of fiscal incentives under the State package.
The Association members requested LG Manoj Sinha and Vikramjit Singh (Commissioner, Industries & Commerce Department) for their kind intervention in the matter for the grant of reimbursement of CGST/IGST to existing units and SGST/CGST/IGST along with turnover incentive to units under substantial expansion under the State package of incentive for their survival.

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