Excelsior Correspondent
JAMMU, June 12: Federation of Industries (FOI), Gangyal discussed the draft State Industrial Policy here today.
In a meeting of the FOI held today under the chairmanship of Rajesh Jain at Gangyal Bhawan the members discussed the draft Industrial Policy which is going to be announced by the State Govt shortly. The members present in the meeting requested Chief Minister Mufti Mohd Sayeed, Dy Chief Minister Dr Nirmal Singh, Finance Minister Haseeb Drabu, and Industries Minister Chander Parkash to discuss the proposed State Industrial Policy with the stake holders on priority basis which is going to be submitted by the high level committee headed by the Financial Commissioner, Industries to the Govt by June 15, 2015.
“We request the CM and Dy CM that the Policy should not be declared in haste without ensuring that all issues are adequately addressed with sufficient clarity. If deemed necessary more time be taken as it will impact the future of Industries in the State for the next ten years.
FOIJ also appealed the Chief Minister and others that the present incentives including VAT remission and Toll exemption should be continued till the introduction of the GST in our State and the exemption from Central Goods and Service Tax should be extended on the same pattern to the Industrial sector, for which a mechanism for such incentives be worked out with the consultation of stake holders at an early date.
Further, in the proposed Goods and Service Tax, the Service Tax component has been included whereas, in J&K no Service Tax is applicable to Industrial sector on job work at present. Hence, the Industrial sector of J&K should be kept out of preview of Service Tax in GST regime also.
FOI requested the Chief Minster to lead a high level delegation of the State to meet the Prime Minister for the restoration of Central Excise package, Income Tax Holiday & rationalization of DIPP package with neutrality of location for the existing as well as for new Industrial units of our State till the adoption of GST.
The meeting was also attended by Lalit Mahajan, Vijay Aggarwal, Devinder Verma, Romesh Badyal, Co-Chairmen FOIJ, Rakesh Bhat, secretary general & S B Abrol convener of FOIJ and others.
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