Excelsior Correspondent
JAMMU, Mar 22: Federation of Industries Jammu (FOIJ) strongly advocate the demand for the exemption to Industrial Sector of J&K from the preview of Property Tax, because many MSME Units are already working on the private land.
While highlighting the issue, Lalit Mahajan Chairman FOIJ has already submitted the suggestions to HU&DD in response to notice issued to general public dated March 10, 2023 with the justification of exemption to working Industrial Units on the private land from the preview of Property Tax.
He said during discussions with the JMC Commissioner few days back, it has been brought to our notice that the Industrial Units working in the Notified Industrial areas of J&K SIDCO and SICOP not falling under the preview of Property Tax where as the Industrial Units established on private land falling under the jurisdiction of Municipal Corporations and Municipal Committees, are falling under the category for the imposition of Property Tax.
It is pertinent to mention here that prior to the notification of Property Tax issued on in Feb 2023, thousands of MSME Units, duly registered with the Industries Department, working on the private land adjoining existing Industrial Estates and other areas having all the requisite permissions from the various Govt Departments and providing employment to thousands of local residents of J&K State and it is unjustified on the part of Govt. to impose Property Tax on the such Industrial Units. It is feared that in case the Property Tax is imposed on such Industrial Units, the Unit holders have no option but to close down their units resulting retrenchment of thousands of Industrial workers in near future.
FOIJ requested the Lt Governor Sinha that in order to attract new investment in Industrial Sector of J&K, Govt of India notified Central package of Incentive Scheme, resulting massive Investment proposal in Industrial Sector received by the Industries Department but due to non availability of land in Notified Industrial areas of J&K SIDCO and SICOP some relaxations has been given for the establishment of Industrial Units on private land by the change in the Land use as per the Notification issued by the Revenue Department and if the Property Tax to be imposed on the new units being established on the private land within the Municipal Limits, additional burden shall be put on the prospective Investors.
Mahajan urged the Lt Governor for his intervention into the matter with the requisite amendment into the notification for the exemption to working Industrial Units of J&K on Private Land from the preview of Property Tax which will provide a great relief to the existing as well as prospective investors.
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