Jammu, Oct 11 (KNN) Members of Bari Brahmana Industries Association (BBIA) raised the issue of pending payments of industrial units in Jammu and Kashmir (J&K) worth Rs 100 crores with the government in a meeting held here on Friday and sought the state's Governor Satya Pal Malik's intervention into the matter.

During the course of discussions, the non-release of payment for the reimbursement of IGST/CGST/SGST and 2% refund claims in lieu of CST to the Industrial Units were also highlighted. 

Later, it was also brought into the notice of members that in spite of the facts that as per the Notification, the payment shall be released within 21 days from the date of submission of claims by the Industrial Units, the concerned department has failed to do so.

The meeting further focused on the GST Department which extended the date for the submission of GST return for the period of August and September 2019 up to 20th October 2019 but the GST Department is charging interest on the deposit of payments after 20th September for the period of August 2019.  

It was also highlighted in the meeting that the working capital of the units holders exhausted due to piling of Stocks in the units due to limited availability of transport vehicles for Kashmir valley forcing the Unit Holders to curtail the production resulting the unit holders not able to pay the GST/Power Bills/Bank Interest on working capital and term loan in near future.

It is pertinent to mention here that due to blockage of Funds, number of accounts of the industrial units may be in-operative in near future resulting the same may be declared as NPA by the Banks.

The meeting was held under the chairmanship of BBIA president Lalit Mahajan 

The meeting also saw Tarun Singla, Vice President, Ajay Langer Vice President, Viraaj Malhotra General Secretary, Rajesh Jain Secretary and Vivek Singhal Treasurer BBIA and other members.

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