FOIJ seeks turn over incentives, road freight reimbursement

By
Daily Excelsior
-

Excelsior Correspondent
JAMMU, Nov 8: Federation of Industries Jammu (FOIJ) has demanded turn over incentives and road freight reimbursement in favour of J&K Industry.
Lalit Mahajan, Chairman FOIJ and president of the Industrial Associations of Jammu Province while conveying his heartiest thanks to Manoj Sinha, Lt Governor of J&K UT, Aurn Kumar Mehta, Financial Commissioner, Finance Department, RK Chibber, Chairman J&K Bank, Mohammad Yaqoob Itoo Director General Budget, PK Bhat, Commissioner, State Tax Department and other Officials of the concerned Departments for timely release of Ist installment of 5% interest subvention relief and release of adequate funds for the reimbursement of GST and 2% Budgetary support to the Industrial units of Jammu & Kashmir, urged upon the Government to provide turn over incentives, road freight reimbursement on the import of raw material and other benefits to the industry in the J&K UT.
Chairman FOIJ, while welcoming the latest amendments made in the State Land Laws which will open doors for the huge investment in the Industrial Sector, Health and Medical Sector, Tourism and Real Estate Sector, requested the Lt. Governor that it is the need of the hour to provide State/Central Govt Fiscal incentives to existing units, units under substantial expansion and new units keeping in mind the factors like locational disadvantages shallow market avenues within the State due to hostile neighbouring countries like China and Pakistan, to attract the new investment from the prospective investors for rapid Industrialization in J&K.
FOIJ demanded road freight reimbursement on the import of raw material from outside and export of finished goods to other part of country and exports; turnover incentives to Micro & Small Scale Units selling their goods within the UT of J&K; Budgetary support of 2% turnover on Interstate sale to all the Units; State CGST/SGST reimbursement benefits to existing units, units under expansion and new units; protection to local MSME Units with the price and purchase preference in respect of purchase by State/Central Govt Departments and free hold rights to the working industrial units for the land allotted by J & K SIDCO/ SICOP on Lease basis.

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