New Delhi, Sep 29 (KNN) In respect of Grant of Fiscal Incentives on Interstate Sale of Industrial Sector of J&K, Federation of Industries Jammu hails the issuance of requisite notification, which includes the 2% reimbursement of IGST & State Freight Refund Scheme-2018.

While providing the 2% IGST Incentives to the Industrial sector of J&K, no provision have been taken for providing the incentives to the Industrial Units who has started their production after 7th July 2017.

New Industrial Units that established after 7th July 2017 are not able to sell their goods outside the State and so they are termed as discrimination with the Sons of the Soil.

FOIJ also drew the kind attention of His Excellency Governor Sh. Satya Pal Malik towards the plight of 7000 to 8000 Micro & Small Scale Units.

These units are on the verge of closer due to non-availability of Fiscal Incentives in GST Regime as compare to VAT Regime and if no remedial measures are adopted by the State Governemnt for providing relief to Micro & Small Units of our State.

FOIJ fear that thousands of units may opt for the permanent closure of their units resulting around One Lakh workers may deprive of their Jobs.

They request the His Excellency Governor Sh. Satya Pal Malik to kindly intervene into the matter.

They suggested constituting a High Level Committee to explore the possibilities for providing Fiscal Incentives to existing MSME Units, units under substantial expansion & new units established after 7th July 2017 of their State for their survival.

For providing great relief to the Industrial Sector, Federation of Industries, Jammu convey their Heartiest thanks to His Excellency Governor Sh. Satya Pal Malik, Sh. B.B. Vyas Advisor to his Excellency Governor, Sh. Naveen Kumar Choudhary, Principal Secretary Finance Department, Sh. Shalindra Kumar, Principal Secretary Industries & Commerce Department.