New Delhi, Jan 9 (KNN) MSME body, Bari Brahmana Industries Association (BBIA), has demanded extension of state fiscal incentives for new MSE units and units under substantial expansion.

In the meeting held under the president ship of Lalit Mahajan, association said “It is the need of hour to extend all the state fiscal incentives to new MSE units and units under substantial expansion which also includes reimbursement of CGST/SGST, 5% budgetary support on taxable turnover and freight subsidy for intra-state sale and 100% freight subsidy on inter-state sale up to destination instead of 1000KM rider.”

Mahajan said that during various meetings held with the then popular government it was promised that the state fiscal incentives shall be extended immediately after the ‘Extension of Central Package of Incentives.”

He pointed that due to non-availability of state fiscal incentives, at present very limited Industrial growth reported in MSE sectors after July 7, 2017.

Members present in the meeting also discussed extension of DIPP package of incentives to J&K industrial units which includes Income Tax Reimbursement, Transport Incentives, Central share of IGST/CGST and Employment Incentives.

The association thanked the Prime Minister, Narendra Modi; Union Finance Minister, Arun Jaitley; Commerce Minister, Suresh Prabu; Governor Satya Pal Malik, Advisor to Governor & Principal Secretary Industries & Commerce Department, K.K. Sharma for the extension of DIPP package of incentives to industrial units located in J&K to all the new units & units under substantial expansion.