New Delhi, Dec 8 (KNN) The Federation of Industries Jammu (FOIJ), showed major concern over safeguarding Lakhanpur toll tax, which supports Jammu and Kashmir's (J&K) industrial sector.

There have been repeated attempts to destroy the industrial sector of J&K by raising voice for the removal of toll tax at Lakhanpur, mentioned FOIJ.

If the toll tax discontinues and allow the import/export of unaccounted goods in/from the state, then it may result in huge financial loss to the state exchequers, FOIJ said.

It may also be a huge loss for the industrial sector of J&K, FOIJ added.

FOIJ organized a meeting regarding this matter.

During the course of discussions, the members present in the meeting conveyed their thanks to the government, for the continuation of toll post at Lakhnapur, which is a safeguard for the industrial sector.

The toll post is working as a tool to stop the import of unaccounted goods in the state by some vested interest persons, members added.

Chairman of FOIJ Lalit Mahajan, mentioned that toll tax at Lakhanpur is a safeguard for the industrial sector of J&K to check the import/export of unaccounted goods, contraband and other banned items to and from other parts of the country.

If state government withdraws the toll tax at Lakhanpur check post, the whole state shall be flooded with the unaccounted goods and other related material which will prove as death nail for the industrial sector of the state, he added.

It was strongly resolved in the meeting that government should not remove toll tax check post at Lakhanpur.

Also, the toll exemptions should be continued in GST Regime to the existing as well as new industrial units to compensate the additional transportation cost on the raw materials and finished goods.

FOIJ further suggested the state government to develop software for the issuance of toll tax receipt having the details of GST number of the importing persons with a provision to generate extra copy of the toll tax receipt.