Excelsior Correspondent
JAMMU, Dec 17: A delegation of Federation of Industries, Jammu (FOIJ) led by Lalit Mahajan, its chairman presented a pre-budget memorandum to the Finance Minister, Haseeb Drabu during the pre-budget discussions held here today.
Mahajan highlighted various issues related to the Industrial Sector and requested the Minister to resolve the same in the Budget of 2017-18. The detailed discussions were held on the issues like, fiscal incentives to Industrial Sector under GST regime, extension of VAT and Toll Tax exemption to Industrial sector till the adoption of GST, extension of cashless system of VAT remission through SICOP after 31-3-2017 till the adoption of GST, removal of items from the Negative list for Industrial Sector for VAT remission in respect of edible oil, roasted ground nuts, floated glass, timber products and other Items being manufactured by the Industrial Sector, removal of items from negative list of SRO 22 of 2004 dated 31-01-2004 for exemption of Additional Toll Tax on Raw Materials for food processing Industries salt/ edible oil/dry milk powder, cement clinkers and coal/Pet coke/HSD/furnace oil, purchase preference to local SSI Units for the purchases by Govt Departments/PSUs, Amnesty Scheme by PDD for Industrial Sector, to provide sufficient Staff at Lakhanpur Checkpost for 24×7 clearance of Industrial goods.
Issue of procedure/guidelines for the Self Certification Mechanism for annual assessment of raw material/ finished goods for Toll Tax exemption as per the New Industrial Policy 2016 was also submitted and discussed in details. Besides this the issue of additional Toll Tax exemption on plant and machinery to Industrial Units on substantial expansion, permission to import the spare parts for Machinery on self certification by Medium and Large Scale Units, exemption to Industrial sector from the preview of Service Tax on the employment of labour through Contractors also came under discussion. It was stressed upon to freeze the Power tariff hike for next 5 years and accord one time amnesty to exempt Industrial sector from penal Interest for the non- submission of “C”- Forms for the Inter-State Sale.
Drabu gave a patient hearing in respect of the issues raised by the Federation and assured the delegation to resolve the issues on priority basis.
Rajesh Jain, Jatinder Aul, Romesh Badyal, SB Abrol, Secretary and Ajay Langer also attended the meet.
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