Exempt Industrial Sector from purview of Property Tax: Birpur SSI Association
29/03/2023
JAMMU, Mar 28: A meeting of members of Birpur Small Scale Industries Association was convened under the Chairmanship of Mr. Deepak Dhawan (President) to discuss the proposed levy of Property tax on Industrial Units established on private lands. When the entrepreneurs wish to establish an Industrial unit be it Micro, Small or Medium they look forward to allotment of industrial plot from SICOP or SIDCO. Many a times Govt. agencies like SICOP or SIDCO are unable to give land and in that case the entrepreneur looks for private land to establish his unit. On private land he has to make extra investment for development of plot and creation of infrastructure. He incurrs heavy cost vis a vis units at notified industrial estates. Levy of property tax on these units will put extra burden on them and will be highly regressive.
On one hand the Govt. is trying to attract outside investments for industrialization of Jammu & Kashmir and on the other hand doesn't have enough land to offer to entrepreneurs. They all have to look forward to private lands and levy of property tax on such units will be a big disincentive for establishing their units and also the existing units. The industrial sector of Jammu & Kashmir is already going through a very lean period and property tax on the units will make them uncompetitive and prone to closure.
It is therefore appealed to LT. Governor Manoj Sinha that the industrial units registered with respective District Industries centers be exempted from proposed Property tax. These units provide employment to so many people. Let's not let them become unemployed.
Prominent among those present in the meeting included Ankur Jain(Senior Vice President), Jatin Sachdeva(Vice President), Gagan Jain (Gen. Secretary), Sharad Malhotra (Secretary-cum-Treasurer), Romesh Badyal, S.C. Dutta, Ajay Gupta, Davinder Gandotra and others.
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