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FOIJ hails release of funds for GST refund | | | Early Times Report
Jammu, June 7: Federation of Industries Jammu conveyed their heartiest thanks to Finance Minister Syed Mohammad Altaf Bukhari, for the release of requisite funds to Commercial Tax Department for the release of payments for the reimbursement of 42% State Share of CGST and 100% SGST deposited by the Unit Holders and accordingly the Commercial Tax Department already started the process for the Refund of amount to the Industrial Units in respect of their refund cases submitted to the Department. It is worthwhile to mention here that J&K Govt. working under the Dynamic Leadership of Chief Minister Mehbooba Mufti is the first State in the country to start the process of GST Refund to the Industrial Units and our Dy. Chief Minster Kavinder Gupta and Finance Minister Syed Mohammad Altaf Bukhari, is taking keen interest for the development of Industrial Sector in our State by providing State Incentives and also taking up the matter with the Central Govt. for the Extension of Income Tax Reimbursement and Central IGST/CGST to the Units under Substantial Expansion and New Units which will open the avenues for the employment opportunities to the Local Youths of the State. Federation of Industries also convey their gratitude to Finance Minister for the issuance of Notification for the Power Amnesty to Industrial Sector, Hoteliers and Resorts with a request to issue the pending Notifications as approved in the Budget 2018-19. |
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