Excelsior Correspondent
JAMMU, Aug 1: Industrialists from Jammu including Rattan Dogra, R.P.Sethi, Kanwal Kaul, Ramesh Sethi and Verinder Jain made an appeal to Prime Minster Narendra Modi, Fianance Minster Arun Jaitley and Minister of State in PMO Dr Jitendra Singh to grant tax concessions to the State under GST as this will help in growth and promotion of industry in the State.
While expressing their confidence over the genuine stand taken by the State Finance Minister, Haseeb Drabu for continuance of existing tax incentives to industry in proposed GST Regime, they said the industrially neglected State was given tax incentives like VAT Remission and Central Excise Refund under State and Special Central Industrial Package for specific time period in order to create self employment and employment in private sector. Results started forth coming as many local youths were either getting self employed or adjusted in new ventures.
They said in event these incentives do not find place in simpler form under GST Regime for existing and new industry, the existing industry will collapse like pack of cards which will lead to retrenchment of already employed and un-employment of educated youth besides no new venture shall come in future. The State has a location disadvantage and is militancy hit thus needs a heeling touch by way of industrial incentives under any taxation policy.
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