JAMMU, June 23: Bari Brahmana Industries Association (BBIA) has urged upon the State Govt to issue SROs of the approved Budget proposals for the industries in the J&K State.
A meeting of the members of the Bari Brahmana Industries Association was held today under the chairmanship of Lalit Mahajan, president BBIA in presence of Suresh Mahajan senior vice president, Ajay Langer, general secretary, Vivek Singhal secretary, Viraaj Malhotra treasurer BBIA and members of BBIA in which the members present in the meeting discussed the issue in respect of non issuance of respective SRO’s for the Budgetary support to the industrial units of J&K as approved in the State Budget proposals 2018-19.
They said prior to GST regime, the CST was exempted as an incentive on the interstate sale on goods by the industrial units to compensate the additional cost of raw materials and keeping in mind the above facts, Post GST Budgetary support was approved in the State Budget 2018-19 for the refund of suitable amount in lieu of 2% CST.
In respect of Freight Subsidy Incentive as approved in the Budget proposal 2018-19, the same was considered keeping in mind the additional cost for the dispatch of finished goods for interstate sale by the industrial units of J & K to compete with the units located in the other parts of the country and also to provide the relief to the units working on job work basis prior to the GST regime.
It is a matter of great concern that in spite of repeated requests and reminders to the Govt. the requisite SRO’s for the Budgetary support of suitable amount in lieu of CST and freight subsidy have not been issued by Finance Department resulting in uncertainty prevailing in the mind of industrial units who depend on the interstate sale of their products due to limited marketing avenues within the State and we fear that any further delay in the issuance of notifications may be resulting in the closure of number of units in near future as they may opt for the shifting of their production base near to the market in the other parts of the country.
BBIA appealed to the Governor N N Vohra to intervene into the matter for the issuance of pending SRO’s of Budgetary support to the Industrial Units of J&K without any further delay.