FCIK hold demonstration against SROs

FCIK hold demonstration against SROs
  • 3

Srinagar: The Federation Chambers of Industries Kashmir (FCIK) on Monday staged a demonstration in press enclave against ‘disparity’ in CGST tax refund.
The protesters said that the discriminatory SROs was passed in a hurry to benefit ‘a handful of outside investors’ based in Jammu region.
President FCIK Mukhtair Yousuf said by providing 42 percent CGST refund from the state government to select outside investors based in Jammu region was a burden on the state exchequer.
“Only 282 units out of a total 60,000 units in Jammu and Kashmir have been notified for the 42 percent CGST refund from state government while 58 percent refund to them is given by central government,” he said.
He said SRO 519 and 521 shows an indifferent attitude of the authorities towards the local industry of Kashmir, which survives despite logistic constraints.
“We are not averse to refund for any industrial units but somewhere a deal has been struck which made the government to pass the SROs in such a hurry while ignoring majority of the local industry,” he added.