Jammu MSMEs agitated over non-implementation of GST in state from July 1

Jammu, June 29 (KNN) With just two days left for the entire country except one state – Jammu & Kashmir - to shift to GST regime, there is panic amongst industrial sector of Jammu over the cost disadvantages that they would face while doing business with other states.

An executive committee meeting of the Members of Bari Brahmana Industries Association (BBIA) was held here under the President ship of  Lalit  Mahajan,  President, BBIA, to discuss the issue with respect to uncertainty prevailing over the implementation of GST in the state from 01 July, 2017.

The members also discussed extension of present State/Central Fiscal incentives under GST regime for the survival of industrial sector of J&K.

The entrepreneurs, mostly MSMEs, present in the meeting raised their serious concerns with regards to delay in the adoption of GST by J&K Government.

BBIA noted that it has created panic amongst the industrial fraternity and number of units has already stopped their production activities as well as are planning to retrench their work force in near future.

BBIA said, “The members have decided in the meeting that we have no option but to start agitation to expose those persons, who are creating hurdles in the implementation of GST in our State from 01 July, 2017.”

“It is not possible for the industrial units to continue their industrial activities after 01 July, 2017 in case the GST is not adopted by the State Government as it is not possible to bring raw materials from other states nor it will be possible to dispatch finished goods to other parts of the country due to double Taxation & non-availability of the Tax Credit resulting in total collapse of industrial activities in our State,” BBIA said.

BBIA further said, “Industrial units working in our state have no option but to close down their units as there would not be any difference between the prices of the goods being manufactured in J&K and other parts of the country and the unit holders may shift their units to the nearest market in the other parts of the country.”

This would result into sharp increase in the unemployment graph of the State as the industrial sector is providing direct and indirect employment to lakhs of people of the state at par with the State Government, the entrepreneurs said.

BBIA has appealed the state Chief Minister Mehooba Mufti, Finance Minister Dr. Haseeb A. Drabu  and Chander Parkash, Industries & Commerce Minister to implement GST in the State with effect from 01 July, 2017.

The association has also appealed to continue with the state and central incentives which the industries get in J&K. (KNN Bureau)