BBIA appeals PM, FM to provide package to all existing, new units

Excelsior Correspondent

JAMMU, Aug 17:   While describing extension of  package of incentives to J&K  as big relief  to the industry here,  Bari Brahmana Industrial Association (BBIA) has appealed to the Prime Minister and Union Finance Minister to extend this benefit to all the existing and new units in the State.
In a meeting of the members of Bari Brahmana Industries Association held here under the chairmanship of  Lalit  Mahajan,  president, BBIA in presence of Suresh Mahajan, senior vice president, Ajay Langer  general secretary,  Vivek Singhal  secretary and  Viraaj Malhotra treasurer, the  BBIA members discussed  the extension of Central package of incentives to J&K Industrial units under GST regime.
Members conveyed their gratitude towards Prime Mini-ster Narendra Modi, Finance Minister    Arun Jaitley, Chief Minister  Mehbooba Mufti,  DyCM  Dr  Nirmal Singh,  Industries Minister Chander Parkash,  and Finance Minister J&K Dr Haseeb Drabu for the extension of  incentives to Industrial units located in J&K up to March 2027.
It was resolved that the units working in the State have a sigh of relief with the extension of Central package  under GST  regime which ends the  uncertainty prevailed in the mind of the Industrialists working  in the State.
While going through the package of incentives announced by Govt of India, it was observed that the incentives was granted only to those Units who are getting Central Excise benefits prior to the GST for their residual period up to 31-3-2027 whereas, no  incentives were  given to existing units and the units who are in the process of  substantial expansion  and the new units.
It is pertinent to mention here that prior to GST regime, thousands of Small Scale Units in J&K not availed the Excise Duty Incentives due to Excise exemption up to  Rs 1.50 crore but under the GST regime the exemption is limited to only Rs 20 lakhs resulting great resentment amongst the SSI Units who are not brought into the ambit of GST  as the Central package of Incentive announced, as per the news published in the media, was  only limited to the Units who are availing the Excise benefits prior to the GST under the Central Excise Notification 56 & 57 of 2002  and 1/2010.
BBIA has appealed to the Prime Minister Narendra Modi  and Union Finance Minister  Arun Jaitley and others to consider their request for grant of fiscal incentives to all the existing units,  units under substantial expansion  and the new industrial units upto to 2027 with the full refund of  Central Govt  share in  IGST and CGST with the extension of State package of incentives as early as possible which will attract the new  investment in our State and also open the doors for providing the employment opportunities to the local youth of the State.

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