Excelsior Correspondent
JAMMU, Oct 30: To discuss the issue of blockage of funds for reimbursement of CGST/SGST claims by J&K Finance Department, Bari Brahmana Industries Association (BBIA) holds a meeting here today. The meeting was held under the Presidentship of Lalit Mahajan in which other members of the association participated.
Members present in the meeting raised serious concern towards the payment of Reimbursement Claims of CGST/SGST duly sanctioned and forwarded by State Tax Department Jammu amounting to Rs. Approx. 25 crores of Jammu Division pending with the Additional Treasury Gandhi Nagar Jammu since last one month resulting blockage of Working Capital Funds of Industrial Units.
It is pertinent to mention here that as per the guidelines of SRO’s the payment of Reimbursement claims of CGST/SGST should be released within 21 days from the date of submission of claims but the payments of sanctioned claims submitted for the period four months before are awaiting allotment by Finance Department.
Moreover the Existing Units are not able to compete with the New Units being set up under the Central Package of Incentives under NCSS-2021 with the Reimbursement of 300% Gross GST whereas the existing units are getting only SGST paid on the value addition.
The members of association, further requested LG Sinha and Santosh Dattatreya Vaidya (IAS), Principal Secretary Finance Department for their kind intervention to resolve the issues related to the existing working Industrial Units working in Union Territory of Jammu & Kashmir.
They also submitted a charter of their demands including the turnover Incentives should be given on the basis of actual Reimbursement claims submitted by the Industrial Units without any Capping. GST Link Incentive to Existing Units who opt for the Substantial Expansion to manufacture additional Items/change in the line of activity and the time bound for the release of requisite funds to Additional Treasury Gandhi Nagar Jammu for the Reimbursement of SGST/CGST to Industrial Units of Jammu.
Among others who were also present during the meeting included Tarun Singla Sr. Vice President, Sh. Ajay Langer Vice President, Viraaj Malhotra General Secretary, Rajesh Jain Secretary and Vivek Singhal Treasurer BBIA.
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