Jammu, Apr 19 (KNN) The small industries in Jammu & Kashmir are making all efforts to get extension of incentives provided to them under the GST regime as well.

They have been meeting the state leaders to discuss the present industrial scenario in the region and seek incentives under the GST regime.

A delegation of industrialist from Association of Industries – Gangyal led by its President Rajesh Jain met Sat Sharma, State President, BJP along with Ashok Koul, State General Secretary, BJP to discuss the industrial scenario in GST regime.

Jain said, “As GST is going to be implemented from July 1, 2017, the impact of GST on industries in our State is going to be very adverse if present set of incentives being extended by State and Centre are not continued. The fact is that our J&K State is land locked state, militancy and cross border terrorism affected having negligible market for finished products and non-availability of raw material as well as skilled labour. That is why a very meagre investment from within the State and outside the State arrived in last 10 years inspite of having good package of incentives.”

The MSMEs said these incentives are more or less to provide them a level playfield as they have more input cost and high cost of production for the products.

“So without incentives under forthcoming GST, existing industry in J&K cannot survive and there would also be no fresh / new investment in future,” the delegation said.

Jain urged the local leaders to take up the issue with the state chief minister and the Centre seeking extension of incentives in the forthcoming GST regime.

Jain further apprised the leaders since last two years no incentives from the central package were disbursed to the industry.

“Claims sanctioned worth Rs. 60 Crores to industry are still pending for disbursement. Industry cannot bear the burden of high cost of credit in the absence of non-availability of incentive, CIS as well as Interest Subsidy,” he said.

The delegation urged the leaders to take up this issue with Union Minister for Industries & Commerce, Nirmala Sitharaman on behalf of industry of J&K State for early release of funds.

The delegation also appealed the State BJP President & General Secretary about the demand of ownership rights to be given to the ‘Sons of the Soil’ as already extended in most of the states.

Jain said the matter is already lying pending with the Industries Department and is yet to be forwarded to Cabinet for approval.

Both Sharma and Koul assured the delegation to extend full support to the industry as it provides and creates jobs. (KNN Bureau)