Excelsior Correspondent
JAMMU, Mar 28: Bari Brahmana Industries Association (BBIA) has urged upon the Government for the issuance of necessary notifications for the budgetary support to the industrial units of the State.
In a meeting of the members of the Bari Brahmana Industries Association held today under the chairmanship of Lalit Mahajan, president BBIA, the members discussed the issue in respect of non-issuance of respective notifications for the budgetary support to the industrial units of J&K as approved in the State Budget proposals 2018-19 which includes suitable amount of incentives in lieu of 2% CST and freight subsidy for the interstate sale of goods.
It is pertinent to mentioned here that prior to GST regime, the CST was exempted as an incentive on the interstate sale on goods by the industrial units to compensate the additional cost of raw materials and keeping in mind the above facts, post GST budgetary support was approved in the State Budget 2018-19 for the refund of suitable amount in lieu of 2% CST.
In respect of freight subsidy incentive as approved in the Budget proposal 2018-19, the same was considered keeping in mind the additional cost for the dispatch of finished goods for interstate Sale by the industrial units of J&K to compete with the units located in the other parts of the country and also to provide the relief to the units working on job work basis prior to the GST regime.
It is a matter of great concern that in spite of repeated requests and reminders, the requisite Notifications for the refund of suitable amount in lieu of CST and freight subsidy not yet issued by Finance Department resulting uncertainty prevails in the mind of Industrial Units who depends on the Interstate sale of their products due to limited marketing avenues within the State.
BBIA appealed to Chief Minister Mehbooba Mufti, Finance Minister Syed Mohd Altaf Bukhari and Industries Minister Chander Parkash to intervene in to the matter for the issuance of pending notifications of Budgetary support to the industrial units of J&K without any further delay for the survival of existing industrial sector of the State.
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