Jammu and Kashmir’s Working Industrial Units Suffer Severe Setbacks Due to Stalled GST Reimbursement Payments
WORKING INDUSTRIAL UNITS OF J&K SUFFERING BADLY DUE TO PENDING LIABILITY OF APPROX. 50 CRORES GST REIMBURSEMENT CLAIMS WITH FINANCE DEPARTMENT – FOIJ
Jammu, 21-10-2024: Sh. Lalit Mahajan Chairman of Federation of Industries Jammu, draws the kind attention of Hon’ble Chief Minister Sh. Omar Abdullah towards the non-release of Funds amounting to approx. Rs. 50 Crores by the Finance Department to clear the liability of sanctioned GST reimbursement claims of working industrial units of J & K pending with Treasuries.
While highlighting the issue Sh. Lalit Mahajan draws the kind attention of the Hon’ble Chief Minister towards the Reimbursement Claims of CGST/SGST amounting to approx. Rs. 50 Crores (Rs. 30 Crores of Jammu and Rs. 20 Crores of Kashmir Division) duly sanctioned and forwarded by State Tax Department to Additional Treasuries of J & K for the period ending June 30-06-2024 as per the Budget allocated for the Financial year 2024-25, but due to least priority of Finance Department to clear the listed Outstanding of Industrial Units, resulting great resentment amongst the Unit Holders due to blockage of Working Capital Funds.
It is pertinent to mention here that as per the guidelines of SRO, 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 30-06-2024 awaiting allotment of requisite funds to Additional Treasuries by the Finance Department, resulting in the working units suffering very badly as the unit holders failed to pay the Salary and other dues of industrial workers.
It is worthwhile to mention here that the Industrial Units of Jammu have a liability of Rs. 30 crore and are awaiting the funds to clear the salaries and bonuses of the staff and workers on the eve of the Deepawali festival, and it is the need of the hour for the immediate release of funds by the Finance Department to clear the liability on a priority basis.
We request Sh. Omar Abdullah, Hon’ble Chief Minister, Sh. Dheeraj Gupta, IAS, Additional Chief Secretary to Hon’ble Chief Minister and Sh. Santosh Dattatreya Vaidya, IAS, Principal Secretary Finance Department for their kind intervention for the release of requisite funds on a priority basis to Additional Treasuries for the Reimbursement of GST Reimbursement Claims to Industrial Units, which will provide great relief to the Industrial Units.
