SROs 519, 521 flawed, discriminatory: FCIK

SRINAGAR: The Federation of Chambers of Industries Kashmir (FCIK) has criticised the state government for “yet another deceit inflicted upon the industrial sector through flawed and discriminatory orders regarding incentivising industrial units on account of SGST”.
In an emergency meeting held under the chairmanship of President FCIK Mukhtar Yousuf, the members termed the SROs 519 and 521, issued on Friday, as “mere eye wash aimed at hoodwinking both the industrial community as well as general public on account of reimbursement of GST”, an official handout issued on Saturday read.
The members observed that both the SROs pertain to a handful of units which were entitled for refund of central excise prior to implementation of GST regime and account for less than 0.5% of the total industrial units.
According to the statement, over 90% of these units happen to be of outside investors who have set up their units at Samba, Kuthua and Jammu. FCIK according to the handout observed that these large units have been assured of reimbursement of 100% SGST and 42% of CGST, the local enterprises have been left high and dry only with further assurances.
“The state government is duty bound to explain the urgency of issuing orders that cover bigwigs while denying or deferring such orders for common unit holders. Furthermore they need to explain how 42% of CGST which is received and retained by the central government is being reimbursed to these units out of state exchequer when there is no such intention or scheme for the local units,” FCIK asks..
FCIK has demanded to “put these SROs on hold till such time the SROs for similar treatment to the local units are issued without any prejudice or discrimination”.
It also appealed the state chief minister to “delve deep into this grave issue in order to ascertain the clear bias with the local units which are already under tremendous pressure and at the verge of collapse”., the handout added.