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| FOIJ, FCIK hail decision of Finance Minister | | | Early Times Report
jammu, May 18: A Delegation of Federation of Industries Jammu under the Chairmanship of Lalit Mahajan, Chairman FOIJ and Ashraf Mir, President FCIK met with Syed Mohd Altaf Bukhari, Finance Minister in his office chamber during a high level meeting at Srinagar.
During the course of discussions, the representatives of FOIJ/FOIK raised the issue in respect of blockage of huge amount of working capital in respect of deposit of IGST/CGST and SGST since 8th July 2017 in the GST Regime against the Fiscal Incentives of the Central/State Govt. as granted for the Industrial Sector of J & K.
It is worthwhile to mention here that, due to procedure adopted as per SRO's for the refund of Fiscal Incentives on quarterly basis, the reimbursement is delayed and not even a single payment of Incentives made to the Industrial Units resulting the working of the Units is suffering very badly.
Further the issue regarding the denial of Price Preference by the Power Development Department and other State Govt. Departments also discussed in the meeting and the kind attention of the Minister was also invited to resolve the issue on priority basis. |
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