J&K industries seek VAT remission & toll exemption till the introduction of the GST
Updated: Jun 13, 2015 11:45:28am
Jammu, Jun 13 (KNN) Ahead of submission of the state industrial policy by the Financial Commissioner Industries to the government by June, 15 2015, industries in Jammu and Kashmir has urged the state government to continue the present fiscal incentives including VAT remission and toll exemption till the introduction of the good and service tax (GST) in the state.
“We request CM and Dy CM that the Policy should not be declared in haste without ensuring that all issues are adequately addressed with sufficient clarity. If deemed necessary more time be taken as it will impact the future of Industries in the state for the next ten years,” said members of the Federation of Industries, Jammu (FOIJ) in a meeting on Friday.
They met state Chief Minister Mohd Sayeed, Finance Minister, Jb Haseeb Drabu and Industries and Commerce Minister, Chander Prakash at AOI Bhawan Gangyal to discuss the draft industrial policy which is going to be announced by the state government.
The industries also demanded that the exemption from Central GST should be extended on the same pattern to the industrial sector, for which a mechanism for such Incentives be worked out with the consultation of stake holders at an early date, so to ensure that Industry should not put for further hardships.
Further, FOIJ requested the chief minister to lead a high level delegation of the state to meet Prime Minister Narendra Modi for the restoration of central excise package, income tax holiday and rationalization of DIPP package with neutrality of location for the existing and for new industrial units of the state till the adoption of GST.
They also said all the mentioned incentives should be available to the industrial sector of J&K under GST regime also for rapid growth of Industrialisation in the state.
The meeting was attended by Lalit Mahajan, Vijay Aggarwal, Devinder Verma, Romesh Badyal, Co-Chairmen FOIJ, Rakesh Bhat, Secretary General and Convener of FOIJ, SB Abrol along with other office bearers of different associations. (KNN/ST)
“We request CM and Dy CM that the Policy should not be declared in haste without ensuring that all issues are adequately addressed with sufficient clarity. If deemed necessary more time be taken as it will impact the future of Industries in the state for the next ten years,” said members of the Federation of Industries, Jammu (FOIJ) in a meeting on Friday.
They met state Chief Minister Mohd Sayeed, Finance Minister, Jb Haseeb Drabu and Industries and Commerce Minister, Chander Prakash at AOI Bhawan Gangyal to discuss the draft industrial policy which is going to be announced by the state government.
The industries also demanded that the exemption from Central GST should be extended on the same pattern to the industrial sector, for which a mechanism for such Incentives be worked out with the consultation of stake holders at an early date, so to ensure that Industry should not put for further hardships.
Further, FOIJ requested the chief minister to lead a high level delegation of the state to meet Prime Minister Narendra Modi for the restoration of central excise package, income tax holiday and rationalization of DIPP package with neutrality of location for the existing and for new industrial units of the state till the adoption of GST.
They also said all the mentioned incentives should be available to the industrial sector of J&K under GST regime also for rapid growth of Industrialisation in the state.
The meeting was attended by Lalit Mahajan, Vijay Aggarwal, Devinder Verma, Romesh Badyal, Co-Chairmen FOIJ, Rakesh Bhat, Secretary General and Convener of FOIJ, SB Abrol along with other office bearers of different associations. (KNN/ST)
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