BBIA calls on top leadership to intervene as funds delay threatens the survival of small and medium industries
Jammu, 19-05-2025: An Urgent meeting of Bari Brahmana Industries Association (BBIA) was held under the presidency 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. Rishi Kant Gupta, Treasurer, BBIA to discuss the issue regarding the pending liabilities of Crores of Rupees with the Industries Department and Finance Department for the release of payment of sanctioned Turnover Incentive Claims of 2022-23 and GST Reimbursement Claims sanctioned up to 31-12-2024, resulting in great resentment amongst the working industrial units of J&K.
While highlighting the issue, Sh. Lalit Mahajan drew the kind attention of Hon’ble Chief Minister Sh. Omar Abdullah who is also holding the charge of Finance Minister, regarding the Reimbursement Claims of CGST/SGST amounting to approx. Rs. 20 Crores duly sanctioned and forwarded by State Tax Department to Additional Treasuries of J&K for the period Ending 31-12-2024 whereas as per the guidelines of SRO’s the payment of Reimbursement claims of CGST/SGST should be released within 21 days from the date of submission of claims but the payments of sanctioned claims submitted for the period up to 31-12-2024 awaiting allotment of requisite funds to Additional Treasuries by Finance Department due to least priority of Finance Department to clear the listed Outstanding of Industrial Units, resulting the working Industrial Units suffering very badly due to acute Financial Crisis in the current War like situation in the Jammu & Kashmir facing great difficulty to continue the Production due to Migration of Skilled/Semi skilled and Unskilled Work Force, Higher Transportation cost of Raw Materials and Finished Goods and other related factors and the working Units suffering very badly as the Unit Holders failed to pay the Salary/Wages and Bank Interest and we fear that majority of Micro/Small and Medium Units may be classified as NPA by the Banks in near future.
In respect of pending Claims of Turnover Incentives with the Industries Department all is not well as in spite of our repeated requests and reminders for the release the payment of Turnover Incentives Claims for the period 2022-23, the Industries Department has failed to release the payment from the Budget Allocation of 2024-25 in March 2025 due to Procedural Delay for the reasons best known to the Department and it has been promised to us that the Claims for the period 2022-23 will be settled immediately from the Budget Allocation of 2025-26 which is already received by the Industries Department but till date no progress has been done as the File is pending with the Administrative Department for the grant of approval to release of Funds for the Turnover Incentive which is unjustified.
We request Hon’ble Chief Minister Sh. Omar Abdullah, who is also in charge of Finance Minister, Hon’ble Deputy Chief Minister Sh. Surinder Kumar Choudhary, Sh. Santosh Dattatreya Vaidya (IAS), Principal Secretary, Finance Department and Sh. Vikramjit Singh, (IPS), Commissioner/Secretary of Industries & Commerce Department, for their kind intervention for the release of payment GST Reimbursement and Turnover Incentives of Industrial Units on priority basis which will provide great relief to the Industrial Units.