No package for Industrial units
15/08/2017
Many industrial units at Bari Brahmana, Samba and Kathua are planning to wind up their operations as the Central and the State Governments have maintained silence over the continuation of the incentives (Industrial package) to the Industry in the Jammu and Kashmir, after implementation of GST in the State. At SIDCO Complex, Samba, about 90 % of the units belonged to the investors from outside the State while in Bari Brahmaman Industrial area, their percentage was around30 to 35 %. In Kathua also, more than 70% units belonged to promoters from outside the State. In view of the tax concession to the industry, many industrialists from Maharashtra, Gujarat, Delhi, Punjab besides other States have set up their units in the State. They are providing huge employment to the local youth besides workers fromoutside the state. With this, thousands of workers may lose their job. The Government is still silent on the issue and is not coming out with any fresh notification over the subject. A top official in the department of Industry and Commerce indicated that Centre may not continue with the concessions to the Industry in the State. Federation of Industry Jammu (FOIJ), Bari Brahmana Industries Association (BBIA) and Chamber of Commerce and Industry (CCI) have reminded the Government to fulfill its promise to continue industrial concessions in the J&K state, after the implementation of Goods and Services Tax (GST) in the State.
The industrialists fully supported the Government on GST. Now, when the GST has been implemented in J&K amidst controversies, the Ministers and bureaucrats have gone silent. A few of them are still giving just assurances but on ground nothing is visible. The industrialists are confused and feeling helpless. They had also assured to take up this issue forcefully with the Centre and it was also communicated during a later meet that Centre has agreed on the issue. But till today, no notification has been issued. August 20, 2017is the first date to deposit tax but till today, the picture is not clear. Many, industrialists from outside the state are planning to wind up their units as there is no response from the Government.
Minister for Industry and Commerce, Chander Parkash has said that State Government has already taken up this issue with the Central Government forcefully.
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