JAMMU, 08-10-2025: A meeting of the Association of Industries (Regd.) Gangyal was held today under the chairmanship of its president, Sh. Virendra Jain was attended by all the office bearers. AOI is compelled to bring to the attention of the Govt., the dire situation faced by industries in Jammu & Kashmir due to the non-release of STATE GOODS AND SERVICES TAX (SGST) claims and TURNOVER INCENTIVES. The members have shown their concern towards the non-release of the much-announced/promised Turnover Incentive, which has jeopardized the functioning of the industry of J&K. The Govt announced turnover incentives for 5 years for the industrial sector of J&K in lieu of the toll tax exemption and CST exemption on outside sales. Only 11% to 14% of the claims of Turnover Incentive were released for the year 2021-22, and the balance amount of the filed claims for 2021-22, 2022-23, and 2023-24 is yet to be released. Despite repeated requests to the Industry Department, industrial units are still waiting for the incentives to be released.
Despite significant contributions to the local economy and maintaining a level playing field by passing on benefits to the market Govt. is not releasing the funds to the industry. The industry is facing an unprecedented crisis. The pending SGST claims for the last four quarters and long-overdue turnover incentives have severely strained the financial resources of industrial units, threatening their very survival. AOI has been persistently highlighting this issue, and it is imperative that immediate action needs to be taken to release these funds. The delayed release of these incentives not only hamper the growth and competitiveness of the industry but also jeopardizes the livelihoods of thousands of employees and workers dependent on these industries.
This is pertinent to mention here that all the incentives provided by the Govt to Micro/Small units are passed on to the consumers to remain in competition against the dealers from the neighboring states.
In light of the above, Sh. Virendra Jain urges the Hon’ble Lieutenant Governor, Sh. Manoj Sinha, the Hon’ble Chief Minister, Jenab Omar Abdulla; and the Hon’ble Deputy Chief Minister, Sh. Surinder Kumar Chowdhary to intervene in the matter and issue necessary instructions to the Finance Department to release the Turnover Incentive and the reimbursement claims of SGST at the earliest so as to save the industry of J&K from collapse . This step would provide much-needed relief to the industry and help sustain the economic momentum in the region.