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news details
AOI discuses extension of central incentives to industries
8/18/2017 8:46:44 PM
Early Times Report

Jammu, Aug 18: A meeting of Association of Industries, Gangyal, Jammu was held today under the chairmanship of Rajesh Jain, President alongwith office bearers -S.B. Abrol, Genral Secretary, Vijay Sharma, Secretary & Sanjeev Vig, Treasurer and Executive Committee members of the Association were participated. The extension of central incentives to J&K industrial units under the GST regime was discussed.
The Association welcomed the announcement by the Central Govt. in granting relief by way of partial refund from the central Govt. share of GST to eligible units in J&K who were availing this exemption prior to introduction of GST. The detailed guidelines and modality of refund is expected to be announced shortly. A preliminary reading of the announcement indicates that the entire North-Eastern States alongwith Uttranchal & Himachal Pradesh and J&K have been clubbed in one category in the announced package of incentives. The Central Excise notification 01/2010 was alive and operational for existing and new industry in J&K State. The impact of this abrupt withdrawal of the existing excise duty notification which was alive till 06-02-2020 amounts to promissory estoppel and will adversely impact the existing industry and will discourage fresh investment in new industry. Small SSI units earlier working in excise exemptions will not be able to avail of new package of incentives as they have been rendered ineligible.
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