Demand PSU of Steel Manufacturing in Jammu in view of rising demand of steel in J&K: CCI Jammu
CCI delegation calls on Sh. Ram Chandra Prasad Singh Hon’ble Union Minister of Steel Government of India
11-10-2021: A delegation of Chamber of Commerce & Industry Jammu led by Sh. Arun Gupta, President and accompanied by Sh. Anil Gupta, Sr. Vice President, Sh. Rajeev Gupta, Jr. Vice President, Sh. Gaurav Gupta, Secretary-General and Sh. Rajesh Gupta called on Sh. Ram Chandra Prasad Singh Hon’ble Union Minister of Steel Government of India at Jammu and discussed with him various issues and also submitted a representation.
To meet the demand of ongoing local projects such as road widening, flyovers, and bridges, etc., at present the local contractors and the dealers have to import the required steel from outside the State. CCI ask the Steel Ministry of India to install a big PSU Unit, particularly in Jammu to meet the demand of local contractors and local dealers for the supply of steel besides employment at large.
The delegation further apprised that the Steel Authority of India situated in Jammu which is feeding the entire J&K is not fully operational due to the availability of limited Stocks, thus defeating the purpose for which it was established. Jammu chamber further requests that all the stocks should be available in the yard of the Steel Authority of India so that the registered units can take benefit of the same.
Before GST local scrap was sourced through SICOP which had a notional entry for VAT. However, after GST iron scrap is attracting 18% GST. This has resulted in a large number of fake invoices being traded putting the secondary steel manufacturers in a legal tangle along with the high cost of inventory. To curb this menace, scrap should attract 5% GST.
The Union Minister assured to consider the demands and suggestions put forth by CCI and thereafter take the requisite measures in this direction.
