Excelsior Correspondent
JAMMU, Apr 18: Bari Brahmana Industrial Association (BBIA) has alleged that Industrial units in the UT of Jammu and Kashmir are suffering badly due to non-release of funds by the Finance Department.
A meeting of Bari Brahmana Industrial Association (BBIA) was held today under the presidentship of Lalit Mahajan in presence of TarunSingla- senior vice president, Ajay Langer vice president, Viraaj Malhotra- general secretary, Rajesh Jain -secretary and Vivek Singhal treasurer BBIA, and other Members to discuss the issue in respect of blockage of working capital of Industrial Units as the J&K Finance Department failed to release funds for reimbursement of CGST/SGST and turnover incentive.
Members present in the meeting raised serious concern towards the pending payment of reimbursement claims of CGST/SGST amounting to Rs 19 crores duly sanctioned and forwarded by State Tax Department Jammu to Additional Treasury Gandhi Nagar Jammu during February and March 2024 as per the Budget allocated for the Financial year 2023-24 but due to least priority of Finance Department to clear the listed outstanding of Industrial units, the funds have been lapsed resulting blockage of working capital funds of Industrial Units.
In respect of turnover incentive to Industrial Units as notified by the Industries Department vide Industrial Policy 2021-30, the claims have been submitted by Industrial Units for the Financial year 2021-22 and 2022-23, but not a single rupee has been received by the Industrial units of Jammu province during the Financial year 2023-24 in-spite of the fact the bills have been uploaded by Industries Department in the month of March 2024 on the basis of funds available resulting great resentment amongst the unit holders.
The BBIA requested the Chief Secretary Atal Dulloo, Union Territory of J&K and Santosh Dattatreya Vaidya, Principal Secretary Finance Department for their intervention for the release of requisite funds on priority basis for the reimbursement of SGST/CGST and turnover incentive to Industrial units of Jammu.
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