BBIA for issuance of notifications for industrial sector

Excelsior Correspondent

JAMMU, Mar 28: Bari Brahmana Industries Association (BBIA) has urged upon the Government for the issuance of necessary notifications for the budgetary support to  the industrial units of the State.
In a meeting of the members of the Bari Brahmana Industries Association held today under the chairmanship of  Lalit Mahajan,  president BBIA, the members discussed  the issue  in respect of  non-issuance of respective notifications for the budgetary support to the industrial units of J&K as approved  in  the State Budget proposals 2018-19  which includes  suitable amount  of  incentives in lieu of  2% CST and freight subsidy for the interstate sale of  goods.
It is pertinent to mentioned here that 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, the requisite Notifications for the refund of suitable amount in lieu of CST and freight subsidy not yet issued by  Finance Department  resulting  uncertainty prevails  in the mind of Industrial Units who depends on the Interstate sale of their products due to limited marketing avenues within the State.
BBIA appealed to  Chief Minister Mehbooba Mufti,  Finance Minister Syed Mohd Altaf Bukhari and  Industries  Minister Chander Parkash  to  intervene in to the matter  for the issuance of pending notifications of Budgetary support to the industrial units of J&K without any further delay for the survival of existing industrial sector of  the State.

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