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12/04/2018 05:25pm

Jammu MSMEs meet State Commerce Ministry to raise GST related issues

image Jammu MSMEs meet State Commerce Ministry to raise GST related issues

New Delhi, Apr 12 (KNN) In a bid to raise the concerns of the industry including Micro, Small and Medium Enterprises (MSMEs) under the Goods and Services Tax, a delegation from Federation of Industries Jammu met Chander Parkash, Industries & Commerce Minister of the state.

During the meeting, the delegation informed the minister about the uncertainty that prevails among the MSMEs.

The delegation urged the minister to provide relief to the MSMEs that are not covered under the central excise prior to GST and thus fall ineligible to avail the announced benefits.

The entrepreneurs informed Parkash that in the recent past there has been a sharp decline in the overall industrial graph of the state due to several factors including non-issuance of the package benefits for Jammu and Kashmir like the one for north-eastern states.

The association submitted a memorandum to the minister mentioning other concerns including issue of requisite notification for the refund of 5% amount on the sale value to the units that are not covered under the central package of Incentives.

Also the demand for Refund of 42% share of CGST under the State Package of Incentives to the MSME sector was raised in the memorandum.

With regard to the complication faced in filing refund claims, the delegation requested the government to consider simplifying procedure for refund of CGST/SGST for MSMEs.

Responding to the requests, the Minister assured the delegation of a corrective framework soon.

“The minister gave a patient hearing to the issues raised by FOIJ and assured the delegation that the matter shall be taken on priority”, FOIJ said in a release. (KNN/YV)

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