Jammu, 27th July 2024: The delegation of the Chamber of Commerce & Industry led by its President Sh. Arun Gupta today met the Hon’ble Union Minister of State Independent Charge for Law, Justice and Parliamentary Affairs at Jammu.
During the interaction Sh. Arun Gupta raised various issues which include amendments in the Income Tax Act under section 43B(h). Sh. Arun Gupta pointed out that as per section 43B(h) the buyer is liable to clear payment within 15 days or a maximum 45 days to the seller i.e. registered micro, small (Udyam Registered) enterprises. He said that this procedure would definitely ruin the business of micro & small enterprises as traders shall prefer to buy their goods from medium-scale enterprises.
He also requested that in order to generate employment and flourish the ancillary units. Mother industries like the Rail Coach factory, and Defence manufacturing factory be established in Jammu.
He also raised the issue of restructuring the GST on Dhabas, during discussions he said that GST on Dhabas should be exempted/withdrawn as they are not getting the input tax credit, or in the alternative the higher slab under composite tax be raised to Rs. 50 lakhs.
While taking up the issues regarding faceless assessment Sh. Arun Gupta said that the submissions by the assesses are summarily dismissed or not considered with no attempt being made to respond, leave alone to rebut the contentions of the assesses. The Case laws relied upon by the assesses are ignored by the worthy officials manning the faceless assessment teams
Sh. Arun Gupta further pointed out that with the advent of a new Industrial Policy, all the benefits including the benefit of GST are to be given only to the new Industrial undertakings as a result of which it will be very difficult/impossible for the existing Industrial Units of Jammu region to survive and become viable. It is therefore requested that all the concessions that are being extended to the new Industrial Units may also be given to the existing Industrial Units to survive.
During interaction Sh. Anil Gupta Sr. Vice President CCI raised the issue of fluctuation in Air Fare making it sometimes difficult for the business community and the general public to travel by Air this needs to be checked.
Sh. Arjun Ram Meghwal, Hon’ble Union Minister of State, gave a patient hearing and assured that the issues raised in today’s meeting should be taken up with the concerned ministry for redressal regarding the fluctuation in airfare he said that the matter is already under consideration of the parliament.
The other office bearers who accompanied the delegation include Sh. Anil Gupta, Sr. Vice President, Sh. Rajeev Gupta, Jr. Vice President and Sh. Rajesh Gupta, Secretary