Early Times Report
JAMMU, Jan 18: In an urgent meeting convened today, the Bari Brahmana Industries Association (BBIA) raised alarm over the Finance Department's failure to release funds for the reimbursement of Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST) claims of industrial units. The meeting, presided over by Lalit Mahajan, President of BBIA, discussed the critical issue in the presence of key association members.
Present at the meeting were Tarun Singla, Sr. Vice President; Ajay Langer, Vice President; Viraaj Malhotra, General Secretary; Rajesh Jain, Secretary; and Vivek Singhal, Treasurer of BBIA, along with other concerned members. The primary agenda was the significant delay in the release of funds by the Jammu and Kashmir Finance Department, adversely affecting the working capital of industrial units.
Members expressed serious concern over the prolonged pending payment of reimbursement claims of CGST/SGST, which had been duly sanctioned and forwarded by the State Tax Department Jammu. The outstanding amount, totaling approximately Rs. 25 Crores for Jammu Division, has been awaiting clearance at the Additional Treasury Gandhi Nagar Jammu, resulting in a substantial blockage of working capital funds for industrial units.
Highlighting the discrepancy, BBIA emphasized that, according to the guidelines outlined in SROs, reimbursement claims for CGST/SGST should be processed within 21 days from the date of submission. However, payments for sanctioned claims submitted up to September 30, 2023, remain pending due to the Finance Department's delay in allocating necessary funds to the Additional Treasury Gandhi Nagar Jammu.
The BBIA expressed disappointment in the perceived casual attitude of the Finance Department, terming it as a lower priority towards the operational industrial units in Jammu and Kashmir, which play a crucial role in generating employment for the local population.
The association has formally requested the intervention of Chief Secretary Atal Dulloo, IAS, Union Territory of Jammu and Kashmir, and Santosh Dattatreya Vaidya (IAS), Principal Secretary of the Finance Department, urging their prompt action in releasing the requisite funds to the Additional Treasury Gandhi Nagar Jammu for the reimbursement of SGST/CGST to support the industrial units in the region. |
