New Delhi, Nov 20 (KNN) The Micro, Small and Medium Enterprises (MSMEs) continue to suffer stress under the newly implemented Goods and Services Tax (GST) as the assured incentive package that was announced by the government fails to reach the stakeholders, Bari Brahamana Industries Association (BBIA) informed.

Talking to KNN, Suresh Mahajan, Senior Vice President of Bari Brahamana Industries Association (BBIA) explained the situation.

Mahajan said that the industry comprising primarily of the MSMEs are taken for a toss as the situation continues to move from bad to worse with no actual notification of the announced incentives reaching the units.

Citing statistics, Majahan informed that the output is already on a down graph by over 40 per cent and the trend is likely to continue since the units continue to face complications and stress under the One Nation One Tax regime of the government.

BBIA lamented that the State Finance Department has not fulfilled their promises for the issuance of Guidelines of State Package of incentives within week times as assured  by the Finance Minister earlier.

The MSME body also raised demands with the government to consider with regard to the yet to come notification of the incentives.

BBIA urged reimbursement of Incentives to be deposited in the account of the Unit Holders by 7th of every month by Direct Bank Transfer for the previous month.   

It further request issuance of requisite notification in respect of Jurisdiction of the Commercial Tax Department for the refund of amount to the Industrial Units of J&K in respect of Refund of amount under the Central Govt. notifications in respect of IGST & CGST.

Raising the concerns, the industry association have written to the GST council as well as the state government demanding immediate action along the lines. (KNN/DA)