Excelsior Correspondent
JAMMU, May 9: Bari Brahmana Industries Association (BBIA), has appealed to the Lt Governor Manoj Sinha to resolve the pending issues of the industrial units in the Jammu and Kashmir.
A meeting of the BBIA was held under the leadership of Lalit Mahajan in the presence of Tarun Singla- senior vice president, Ajay Langer vice president, Viraaj Malhotra- general secretary, Rajesh Jain-secretary and Vivek Singhal- treasurer BBIA to discuss the plight of existing working Industrial units who are suffering very badly as number of issues related to the working units pending with the Industries and Finance Department since long but in spite of repeated requests and reminders nothing has been done so far.
In this regard, the BBIA has drawn the attention of Lt Governor that the Fiscal Incentives for the working Industrial units as on 31-3-2021 has been diluted to 50% in post GST regime as per the details available as the total amount as Fiscal Incentives was granted to Industrial units by State Govt prior to 08-07-2017 was in the tune of Rs 1000 crores which includes Rs. 600 crores as VAT remission, Rs 200 crores as turnover incentives on Interstate sale and Rs 200 crores as Toll Tax exemption whereas the Fiscal Incentives in 2021 has been diluted to Approx Rs 500 crores which includes Rs 450 crores as GST reimbursement and Rs 50 crores as turnover incentive resulting a major setback to existing working Industrial units after 31-03-2021 as they were not able to compete with the outside suppliers due to locational disadvantages, non- availability of raw material in J&K resulting higher cost of production after the removal of Toll Tax w.e.f. 01-01-2020.
BBIA pointed out that even the release of funds is the least priority of Finance and Industries Department for the reimbursement of Fiscal Incentives resulting the GST reimbursement claims amounting to Rs 36.20 crores and turnover Incentives claims against the approved budget of Rs 50 crores for the Financial Year 2021-22 has been returned unpaid by Treasury, due to unknown reasons, resulting the Budget amount allocated for the same has been lapsed and it has been brought to our notice that the claims shall be adjusted in the Budget allocation of 2024-25 resulting further dilution in the Budget allocation for the current Financial Year which is unjustified.
Many Industrial items being manufactured by the Registered Industrial units classified under Negative List by Finance Department under SRO 63 of 2018 for availing Fiscal Incentives which also includes Edible Oil and Roasted Groundnut being consumed by local people resulting great resentment amongst the unit holders as they are not able to compete with the Units being setup under the NCSS-2021 Scheme of the Govt in which no such items classified under Negative List.
They urged the Lt Governor to constitute a high level committee under the chairmanship of Chief Secretary for the early resolution of pending issues of existing working Industrial Units elated to fiscal Incentives.
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