Excelsior Correspondent
JAMMU, Nov 27: Bari Brahmana Industries Association (BBIA) has claimed that medium and small scale industry in the State has reached at the verge of closure due to the anti-industry policies of the State and the Central Government.
In a meeting of the Association held today under the chairmanship of Lalit Mahajan, president BBIA in the presence Suresh Mahajan, senior vice president, Varun Singla, vice president, Ajay Langer, general secretary and others the members discussed issues regarding the uncertainty prevailing in the mind of unit holders, who are totally dependent on the sale of their products within the State. They said due to delaying tactics being adopted by Finance Department for the issuance of guidelines in respect of Notifications issued on 25-10-2017 by the State Govt for the extension of State package of incentives under GST regime, the industrialists are suffering badly.
It is pertinent to mention here that the majority of the MSME Sector units of the State are not covered under the Central package of incentives announced by Ministry of DIPP as out of approx 8000 to 10000 Units working in our State only 400 to 500 Units are eligible to avail the benefit of Central package of incentives which is equivalent to 4% to 5% of the units, resulting 95% working units out of the preview of the Central Package of Incentives which were earlier covered under the VAT remission incentives of State Govt.
It is a matter of great disappointment for the MSME sector that in spite of repeated assurances given by State Govt to issue the Notifications/guidelines within one week from the date of issue of notification by the Central Govt, the much awaited Office Memorandum was issued on Oct 25, 2017 but the detailed Notification is still awaited even after the passage of one month which shows the casual attitude of the Finance Department towards Industrial Sector of the State resulting the huge financial burden reported by the Industrial Units for the deposit the GST since August onward.
It was resolved in the meeting that while issuing the detailed Notification, Govt. should consider their request for the timely release of fiscal incentives under the said notification. They sought reimbursement of incentives of SGST/CGST and IGST to the existing units, units under substantial expansion and new units shall be deposited in the account of the Unit holders by 7th of every month by Direct Bank Transfer for the previous month.
They also demanded to issue the Notification in respect of jurisdiction of the Commercial Tax Department for the refund of amount to the Industrial Units of J&K in respect of refund of amount under the Central Govt notifications in respect of IGST & CGST.
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