Jammu, June 25 (KNN) The micro, small and medium enterprises (MSMEs) of Jammu have urged the J&K Governor, NN Vohra to get extended the budgetary support to the industrial units of Jammu & Kashmir which was approved in the State Budget proposals of 2018-19.

It includes suitable amount in lieu of 2% Central Sales Tax (CST) and Freight Subsidy for the inter-state sale of goods.

In this regard, a meeting of the members of Bari Brahmana Industries Association (BBIA) was held under the Chairmanship of its President Lalit Mahajan.

Mahajan said, “Prior to GST regime, the CST was exempted as an incentive on the inter-state sale on goods by  the industrial units to compensate the additional cost of raw materials. Also, post GST Budgetary support was approved in the State Budget 2018-19 for the refund of suitable amount in lieu of 2% CST.”

In respect of Freight Subsidy Incentive as approved in the Budget Proposal 2018-19, the same was considered keeping in mind the additional logistic cost for finished goods for interstate sale by the industrial units of J&K in order to compete with the units located in other parts of the country, Mahajan added.

The incentive was also been given to provide relief to units working on Job Work basis prior to the GST Regime.

“It is a matter of great concern that despite repeated requests and reminders to the Government, the   requisite SRO’s for the Budgetary Support of suitable amount in lieu of CST and Freight Subsidy have not been issued by the Finance Department resulting in uncertainty prevailing in the minds of industrial units which depend heavily on interstate sale of their products due to limited marketing avenues here,” BBIA members said.

The members expressed fear that any further delay in the issuance of  Notifications  in this regard may result into closure of number of units in near future as they may opt for the shifting their production base near to other places.

BBIA appealed Governor Vohra to intervene into the matter for the issuance of pending SRO’s of Budgetary Support to the industrial units of J&K without any further delay. (KNN Bureau)