KCCI takes up issues of industrial unit holders with Advisor Sharma
Jammu, Nov 13: Nasir Hamid Khan, senior vice president, Kashmir Chamber of Commerce and Industry (KCCI) Wednesday called on Kewal Kumar Sharma, Advisor to Governor, in the Civil Secretariat here and put forth many problems of industrial unit holders. Main issues raised by the KCCI senior vice-president include lapsing of the GST refund to industrial units of Kashmir and reschedulement of Amnesty Scheme announced to settle unresolved issues of VAT regime for which a final opportunity had been given for submission of installments by 14th of November, 2018. The winter months being leanest months for the business community, the KCCI leader proposed that a fresh schedule starting from 31st of March, 2019 may be considered in view of fragile economic condition of unit holders. Nasir Hamid Khan brought to the notice of the Advisor that the delay in release of the GST refund – which basically was part of the working capital of the industrialists – was stuck due to delay in the mandatory DIPP inspections and other issues. As the lapsing of funds would create further complications in the matter, he requested the Advisor to consider issuing instructions for release of the GST refund against an undertaking or affidavit which the unit holders would be providing. The issue of delay in deciding the issue of Input Tax Credit for the stocks destroyed in the September 2014 floods was also brought to the notice of the Advisor. Khan informed the Advisor that on the recommendations of the Commercial Taxes Department in January 2018, the waiver was in-principle approved by the then Finance Minister in February, 2018 who had directed the Department to submit a report in this regard. He said though all the process had been completed in this regard, a final decision was still awaited by the affected dealers. The issue of losses suffered by industrial unit on account of erratic supply of electricity to industrial areas was also taken up with the Advisor.