There is no budgetary support for the industrial units in Jammu and Kashmir by Department of Industrial Policy and Promotion (DIPP) in respect of rolling out of the GST from July 8, 2017. Federation of Industry Jammu has alleged that Industrial Sector of the State is suffering badly due to non release of requisite funds by the DIPP to GST Commissioner , Jammu and Kashmir in respect of refund of IGST /58 percent CGST as well as to JKDFC.
Federation of Industry Jammu, in a press statement mentioned that the position remains as it is even after passing of three quarters. Sanction orders have already been released in respect of valid claims but because of non allocation of funds, payments do not forth come. All the requisite formalities like inspection of the units, verifying eligibilities etc, no action in this regard has been taken even after the expiry of six months. The scheme, however, envisages that budgetary support will be given only for first two quarters until the inspection by the DIPP is completed.
We urge the State Government to use its good offices in resolving the issue which is related to the financial health of the industries of the state vis-à-vis the GST refund due to the concerned units.
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