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| FOIJ hails fiscal incentives to industrial sector | | | Early Times Report
JAMMU, Sept 28: Federation of Industries Jammu today hailed the issuance of requisite notification in respect of Grant of Fiscal Incentives on Interstate Sale of Industrial Sector of J&K which includes the 2% reimbursement of IGST & State Freight Refund Scheme-2018.
Federation of Industries, Jammu convey their Heartiest thanks to His Excellency Governor Satya Pal Malik, B.B. Vyas Advisor to His Excellency Governor, Naveen Kumar Choudhary, Principal Secretary Finance Department, Shalindra Kumar, Principal Secretary Industries & Commerce Department for providing great relief to the Industrial Sector or J & K dependent on the Interstate Sale of their Finished Goods.
It is pertinent to mention here that while providing the 2% IGST Incentives to the Industrial sector of J&K, no provision have been taken for providing the above incentives to the Industrial Units who has started their production after 07-07-2017 and new Industrial Units which we term as discrimination with the Sons of the Soil who have established their units after 07-07-2017 as they are not able to sell their goods to outside the State.
"We also wish to draw the kind attention of Governor towards the plight of 7000 to 8000 Micro and Small Scale Units which are on the verge of closer due to non availability of Fiscal Incentives in GST Regime as compare to VAT Regime and if no remedial measures are adopted by the State Govt. for providing relief to Micro and Small Units of our State, we fear that thousands of units may opt for the permanent Clouser of their units resulting around One Lac workers may deprive of their Jobs", they added. |
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