Jammu, January 06, (Scoop News)- Reiterating Government’s commitment about promotion of Industries in J&K, the Minister for Finance & Ladakh Affairs, Abdul Rahim Rather, today assured Confederation of Indian Industries (CII) full support in its endeavours to modernize and upgrade Industries in the state to make them market oriented and competitive in tone with the day to day requirements. He said industries have to grow in consonance with the newer technologies and innovations to ensure its sustenance in the open market competition adding that government would remove every hiccup, coming in the way of Industries & Commerce Sector in its march towards modernization.
Interacting with a delegation of CII in Civil Secretariat Jammu today, Rather said incentives and packages rolled out under central and state industrial policies for the Industries would be implemented in letter and spirit and there shall in no way be any let up in Government’s support and encouragement to the Trade and Industry. He said industrial promotion was necessary for employment generation and production boon to ensure socio- economic emancipation of the state.
The meeting was attended by Anil Mahajan, Chairman, CII J&K State Council, Sanjay Puri, past Chairman, CII J&K State council & Managing Director, PBI (India) ltd., S.K. Malhotra, prominent Chartered Accountant, Vivek Bhardwaj, Head CII J&K State office & Gagandeep Singh, Executive Officer CII J&K.
The main issues raised by the CII included simplification of the VAT refund process through SICOP and procurement of spare parts and lab equipment which are required to be imported by the Industrialists and entrepreneurs for modernization and upgradation of industries in the state.
Rather informed the delegation that officers and the field agencies of Excise & Commercial Taxes Department have been time and again impressed upon to deal politely with the traders who represent respected segment of the society. He asked the delegation members to present their other demands and problems in the pre budget discussion which will be held soon in connection with the 2014-2015 budget formulation.
Implementation of the proposed Goods and Services Tax regime in J&K like other states of the country also came up under discussion. The Finance Minister assured the CII delegation that all the stakeholders would be taken on board while implementing this new tax reform.
He said the Empowered Committee (EC) of State Finance Ministers has forwarded its final recommendations to the Government of India regarding the revised Constitutional Amendment Bill for implementation of GST in the country adding that there has been 100% Consensus among Finance Ministers of various states on the roadmap prepared by the Empowered Committee in this regard.
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