Excelsior Correspondent
JAMMU, Aug 25: Bari Brahmana Industries Association (BBIA) has said that Central industrial package of incentives recently announced by the Government will create hurdles in the over all growth of the industrial sector in the J&K State.
A meeting of the Association was held here today 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 and members of BBIA, to discuss the uncertainty prevailing in the minds of majority of Industrial unit holders, working in the State due to denial of Central package to J&K Industrial units under GST regime.
While going through the package of incentives approved by Union cabinet, it has been observed that the incentives were granted only to those units who were getting Central Excise benefits prior to the GST for their residual period up to March 31, 2027, whereas, no incentives have been given to such existing units and the units who are in the process of substantial expansion and who were not availing the Central Excise benefits and the new units as well. It amounts to step motherly treatment with the majority of working units of the State, they maintained.
BBIA members said that prior to GST regime, thousands of micro and small scale units of the State did not avail the Excise Duty incentives due to Excise exemption up to Rs 1.50 crores but under the GST regime the exemption is limited up to only Rs 20 lakh, resulting great resentments amongst the micro and SSI units who are not brought into the ambit of above incentives under GST regime as per the Central package of incentive announced which is 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, resulting panic amongst the micro and Small Scale Sector of the State for their future and there would be a limited Industrial growth of new Industrial units.
It is worthwhile to mention here that Industries department has already taken effective steps for the development of new Industrial Estates in our State to attract the new investment and the department has already acquired thousands kanals of land in last two years and if the Central package of incentive is not extended to the existing units, units under substantial expansion and new units, the whole efforts of the department would be converted into futile exercise.
BBIA appealed to the Chief Minister Mehbooba Mufti and Industries Minister Chander Parkash to intervene into the matter and take up the issue with the Prime Minister and Finance Minister Arun Jaitley.
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