Finance department fails to release funds for the reimbursement of CGST/SGST claims of industrial units – BBIA

Jammu, 18-01-2024: 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 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.

Members present in the meeting raised serious concern towards the pending payment of  Reimbursement Claims of CGST/SGST duly sanctioned and forwarded by the State Tax Department Jammu amounting to  Rs. Approx. 25 Crores of Jammu Division lying since long with the Additional Treasury Gandhi Nagar Jammu resulting in blockage of Working Capital Funds of Industrial Units.

It is pertinent to mention here that 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 30-09-2023 awaiting allotment of requisite funds to Additional Treasury Gandhi Nagar Jammu by Finance Department which shows the casual attitude of the Finance Department and we termed it as least priority of Govt. towards the working Industrial Units of J & K in spite of all the odds and   providing Employment to lakhs of Local people.

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 to Additional Treasury Gandhi Nagar Jammu for the Reimbursement of SGST/CGST to Industrial Units of Jammu.