NEW DELHI: Minister For Industries and Commerce, Chander Parkash Ganga called upon Union Minister For Finance, Arun Jaitley and Union Minister of State for Commerce & Industries, Nirmala Sitharaman and sought continuation/extension of Central Packages of incentives to J&K under GST regime.
He met the Union Ministers separately to discuss this important issue.
Ganga informed the Union Ministers that Central Government had announced a package of incentives for J&K including Capital Investment Subsidy, Interest Subsidy, Central Excise Refund etc. He however said that the fate of these incentives was not clear after implementation of GST in the state, even as the Niti Aayog in its meeting held earlier had promised to continue the same under the new regime.
The Minister urged the Union Ministers to continue the package of incentives in its original form and make the same available to new units as well as the existing units on substantial expansion.
The Union Ministers assured that they shall look into the matter and will safeguard the interests of the industries of J&K under the GST regime. It was also conveyed that the Central Government is committed to the rapid development of the State.
It is also worth mentioning that the excise exemption was available upto 2020 vide the notifications issued earlier by the central government.
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