Excelsior Correspondent
JAMMU, June 20: Industrial fraternity has urged the Governor to grant State Fiscal Incentives to the Industrial Sector of J&K to attract the new investment in our State which will open the doors for the employment generation.
The issue was discussed in detail in a joint meeting of the Industrial Associations of Bari Brahmana, Samba, Kathua, which was held today under the chairmanship of Lalit Mahajan, president BBIA, and in the presence of Vijay Aggarwal, president, Association of Industries, Samba, Ajit Bawa, president Kathua Industrial Units Association, Vivek Singhal Treasurer (BBIA) and Sandeep Mittal, general secretary Kathua Industrial Units Association and many others.
While expressing gratitude to AK Mehta, Principal Secretary Finance Department and PK Bhat, Commissioner State Tax Department for providing relief to the Industrial Sector of J&K by releasing of Rs 100 crore for the reimbursement of State Fiscal Incentives to the Industrial Units of J&K, the members requested the State Tax Department to reimburse the Incentives in time bound manner for their survival as existing industrial in the State is working on the basis of State/Central Fiscal Incentives.
It was also resolved in the meeting that no fresh Investment is coming in the State since the adoption of GST due to non availability of State Fiscal Incentives to existing, new units and units under expansion in respect of reimbursement of CGST/SGST, 2% reimbursement in lieu of CST due to rider of 2016-17 clause, State Freight Refund Scheme to the units selling their products within 1000 km and other related incentives.
The meeting requested Governor Satya Pal Malik and K Skandan and KK Sharma, Advisors to Governor, to kindly intervene into the matter and constitute a high level committee to examine the whole issue on priority basis by threadbare discussions with all stake holders.
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