Excelsior Correspondent
SRINAGAR, Dec 27: The Federation of Chambers of Industries Kashmir (FCIK) today urged the administration to advocate for an amnesty for MSME (Micro, Small, and Medium Enterprises) defaults within the GST regime.
In a statement, the president of FCIK, Shahid Kamili, stated that FCIK is seeking a robust recommendation from the Jammu and Kashmir Government to the GST Council and Union Government for the grant of amnesty for MSME defaults in the GST regime. He emphasised that these defaults primarily occurred during the troubled period of reorganisation and COVID restrictions.
Kamli thanked the Lieutenant Governor, Manoj Sinha, and other members of the Administrative Council for considering the long-pending demand of the organisation to provide a clean slate to the industry for the pre-GST regime during the period when industrial units were exempted from payment of VAT under the remission mechanism.
“The industrial units had been subjected to great inconvenience and trouble due to irrational demands raised by assessing authorities through unilateral assessments and reassessments. Many cases had been referred to the recovery wing, causing significant stress to the already burdened entrepreneurs,” he said.
Kamili referred to the amnesty as the first gift to Industry and trade from the incumbent Chief Secretary, Atal Duloo. He said the authorised representatives of FCIK, including the presidents of all industrial estates in the valley, had addressed this vital issue in a marathon meeting last Friday.
He expressed hope that the guidelines issued under the amnesty would be simple and provide a “clean slate” to the industry, as promised before the transition into the GST regime.
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