Excelsior Correspondent
JAMMU, May 19: Bari Brahmana Industries Association (BBIA) has said that J&K Industry is suffering badly due to the delaying tactics adopted by the departments of Industries and Finance.
A meeting of the BBIA was held under the presidentship of Lalit Mahajan in the presence of Tarun Singla, senior vice president, Ajay Langer vice president, Viraaj Malhotra general secretary, Rajesh Jain secretary and Rishi Kant Gupta- treasurer BBIA to discuss the issue regarding the pending liabilities of crores of rupees with the Industries and Finance Departments for the release of payment of sanctioned turnover incentive claims of 2022-23 and GST reimbursement claims sanctioned up to 31-12-2024 resulting great resentment amongst the working Industrial Units of J&K.
While highlighting the issue Lalit Mahajan draw the attention of Chief Minister Omar Abdullah who is also holding the charge of Finance Minister towards the Reimbursement Claims of CGST/SGST amounting to approx. Rs. 20 crores duly sanctioned and forwarded by State Tax Department to Additional Treasuries of J&K for the period ending 31-12-2024 whereas as per the guidelines of SRO’s the payment of reimbursement claims of CGST/SGST should be released within 21 days from the date of submission of claims but the payments of sanctioned claims submitted for the period up to 31-12-2024 awaiting allotment of requisite funds to Additional Treasuries by Finance Department due to least priority of Finance Department to clear the listed outstanding of Industrial Units, resulting the working Industrial Units suffering very badly due to acute financial crisis in the current situation in the Jammu & Kashmir.
The industry is also facing great difficulty due to migration of skilled/semi skilled and unskilled work force, higher transportation cost of raw materials and finished goods and other related factors. The Unit holders failed to pay the salary/wages and bank interest and we fear that majority of micro/small and medium units may be classified as NPA by the Banks in near future.
In respect of pending claims of turnover incentives with the Industries Department all is not well as in spite of our repeated requests and reminders for the release the payment of Turnover Incentives claims for the period 2022-23, the Industries Department failed to release the payment from the Budget allocation of 2024-25 in March 2025 due to procedural delay.
The BBIA has requested the Chief Minister Omar Abdullah who is also holding the charge of Finance Minister, Deputy Chief Minister Surinder Kumar Choudhary, Santosh Dattatreya Vaidya, Principal Secretary Finance Department and Vikramjit Singh, Commissioner/ Secretary, Industries & Commerce Department, for their urgent intervention.
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