Jammu, 18-04-2024: An Urgent Meeting of Bari Brahmana Industries Association (BBIA) was held today under the Presidentship of Sh. Lalit Mahajan in the presence of Sh. Tarun Singla Sr. Vice President, Sh. Ajay Langer Vice President, Sh. Viraaj Malhotra General Secretary, Sh. Rajesh Jain Secretary and Sh. Vivek Singhal Treasurer of BBIA, and other Members to discuss the issue in respect of blockage of Working Capital of Industrial Units as the J&K Finance Department failed to release funds for Reimbursement of CGST/SGST and Turnover Incentive.
Members present in the meeting raised serious concerns towards the pending payment of Reimbursement Claims of CGST/SGST amounting to Rs. 19 Crores duly sanctioned and forwarded by State Tax Department Jammu to Additional Treasury Gandhi Nagar Jammu during February and March 2024 as per the Budget allocated for the Financial year 2023-24 but due to least priority of Finance Department to clear the listed Outstanding of Industrial Units, the funds has lapsed resulting blockage of Working Capital Funds of Industrial Units.
In respect of the Turnover Incentive to Industrial Units as notified by the Industries Department vide Industrial Policy 2021-30, the Claims have been submitted by Industrial Units for the Financial year 2021-22 and 2022-23, but not a single Rupee has been received by the Industrial Units of Jammu province during the Financial year 2023-24 in-spite of the fact the Bills has been uploaded by Industries Department in the month of March 2024 on the basis of Funds available resulting great resentment amongst the Unit Holders.
We request Hon’ble Chief Secretary Sh. Atal Dulloo, IAS, Union Territory of J&K and Sh. Santosh Dattatreya Vaidya (IAS), Principal Secretary Finance Department for their kind intervention for the release of requisite funds on a priority basis for the Reimbursement of SGST/CGST and Turnover Incentive to Industrial Units of Jammu.
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