FOIJ welcomes extension of DIPP package of incentives to JK industry’
Jammu, Apr 29 : Federation of Industries Jammu (FOIJ) has welcomed the extension of DIPP package of incentives in Jammu and Kashmir and hoped that the state will now attract fresh investments.
However, it requested for grant of incentives in the tune of five per cent refund of sales value to micro and small scale units having less than Rs 1.5 crore turnover prior to GST, extension of package of incentives of income tax reimbursement and GST at par with northeastern states.
“Industrial Growth in our state was at a lowest level since last two year due to non availability of fiscal incentives and with the issuance of DIPP Package of incentives, we hope that the process of fresh investment in the state may be started soon.
“If the centre provides fiscal incentives of Income Tax reimbursement and GST at par with the northeastern state, the rapid Industrial growth may be foreseen in near future,” FOIJ chairman Lalit Mahajan said.
He chaired a meeting of the executive body of the FOIJ here and discussed in detail the extension of DIPP package of incentives to J&K industrial units.
Mahajan said the meeting hailed the centre and state governments for the extension of DIPP package of incentives to industrial units located in J&K from June 15 2017 to March 2022 to all the new units and units under substantial expansion.
Federation of Industries Jammu (FOIJ) is the representative entity of various industrial bodies.