Excelsior Correspondent
JAMMU, Sept 28: Federation of Industries Jammu (FoIJ) today drew the attention of the Governor towards the ailing MSME sector in the State and demanded Fiscal Incentives for existing MSME units.
“About 7000 to 8000 Micro & Small Scale units are on the verge of closer due to non availability of Fiscal Incentives in GST regime as compared to VAT regime and if no remedial measures are adopted by the State Government for providing relief to Micro & Small units of our state, we fear that thousands of units may opt for the permanent closure of their units, resulting into unemployment of around one lakh workers”, a spokesperson of FoIJ said.
He requested Governor Satya Pal Malik to intervene into the matter and constitute a high level committee to explore the possibilities for providing Fiscal Incentives to existing MSME units (units under substantial expansion & new units established after 07-07-2017 of our State) for their survival.
The spokesperson hailed the issuance of requisite notification in respect of Grant of Fiscal Incentives on inter-state sale of Industrial products of J&K which includes the 2% reimbursement of IGST & State Freight Refund Scheme-2018,
It is pertinent to mention here that while providing the 2% IGST Incentives to the Industrial sector of J&K, no provision has been taken for providing the above incentives to the Industrial Units who has started their production after 07-07-2017 and new Industrial Units which we term as discrimination with the sons of the soil who have established their units after 07-07-2017 as they are not able to sell their goods outside the State.
Trending Now
E-Paper
Follow our WhatsApp channel