Early Times Report
JAMMU, Feb 20: To discuss the notification issued by Ministry of Commerce & Industry, Govt. of India in respect of "Industrial Development Package-2021" for J&K Industrial Units, a meeting of the Bari Brahmana Industries Association (BBIA) was held today.
The meeting was held under the presidentship of Lalit Mahajan, Chairman Federation of Industries, Jammu in presence of Tarun Singla Sr. Vice President, Ajay Langer Vice President, Viraaj Malhotra General Secretary, Rajesh Jain Secretary, Vivek Singhal Treasurer and other members of the Association.
While going through the Notification No F/1(1)/2020-SSS dated 19-02-2021 issued by Ministry of Commerce & Industry, Govt. of India, members present in the meeting raised serious concern towards the uncertainty prevailing in the mind of working MSME, Micro and Small Scale Industrial Units of J&K due to inadequate fiscal incentives granted with the denial of reimbursement of gross GST to existing units and Unit under substantial expansion as per the said Notification due to which Unhealthy Competition may be faced from the new investors in the state who will get the benefits of gross GST reimbursement of 300% on the investment of plant & machinery.
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