Jammu, July 7 (KNN) The Jammu MSMEs have expresses happiness over adoption of resolution for implementing GST in the state while continuing the exemptions and incentives given to the industries in the Jammu & Kashmir.

In a press release, the Association of Industries, Gangyal, under the president-ship of Rajesh Jain, ,members expressed their satisfaction towards the adoption of resolution for implementing GST in the state paving way towards the total implementation of the new regime of Goods and Services Tax totality bringing State at par with the other parts of the nation.

“The commendable role played by Deputy Chief Minister Dr. Nirmal Singh, Finance Minister Haseeb Ahmed Drabu, Industries & Commerce Minister Chander Parkash under the leadership of Chief Minister Mehbooba Mufti who actively participated in the proceedings in the legislative assembly for smooth adoption of the GST Act to bring J&K State at par with rest of the country,” AOI said.

Members further expressed their satisfaction towards the declaration of the State Government to continue all the exemptions, subsidies, incentives as being provided to industrial sector in the State.

Such kind of assurances shall be instrumental in bringing fresh capital investments for the setting up of new industrial units in the State to provide fresh job opportunities to a very large number of unemployed youth, said the entrepreneurs.

Entrepreneurs present in the meeting urged the State Government to take all the steps to implement Goods and Services Tax in the minimum possible period of time so that the manufacturing activities or resumed by the local industrial units immediately to enable them end the forced closure without any of their faults.

The industrialists said industrial units which are already either close or on the verge of closure due to non-implementation of GST in the state affecting both arrival of their raw materials and sale of their finished products.

“This is pertinent to add that the industrial sector is the worst sufferer due to deliberate attempt of certain elements in the state to hamper the activities of industrial unit largely established in Jammu region thus creating avoidable wedge between two regions of the state,” AOI said.

The MSMEs have been raising with the State Government the adverse circumstances in which industrial units are functioning and forced hindrance created may result in affecting the health of the entire industrial sector due to unproductive period of over a week.

Entrepreneurs further requested the State Government to expeditiously implement Goods and Service Tax in the state while issuing various connected / related Notifications to grant all the existing and assured incentives to be extended under the GST regime at the earliest to enable the industrial units for their smooth running without further affecting their viabilities. (KNN Bureau)