Lot of subsidies provided to establish new industrial units in J&K: Goyal

In Jammu and Kashmir, the government provided a lot of subsidies to establish new Industrial units like GST incentives and other benefits, so that ailing industry get some respite, this was stated by the Cabinet Minister of Commerce and Industry, Piyush Goyal.
The Minister was speaking during a meeting of National Trader’s Welfare Board (NTWB), held here today.
The meeting was held under the chairmanship of Piyush Goyal , Cabinet Minister of Commerce and Industry and was attended by Sunil Singhi Chairman, NTWB, and all the Board Members.
Dr Sanjay Bansal from Jammu and Kashmir and members NTWB raised various issues including, turnover incentive for ailing industry in J&K, 3% of Gross turnover subject to Rs. 10 lacs for Micro Industry having 5 crore turnover, 2% of Gross turnover for Small, Medium and Large subject to maximum 50 lacs, for the purpose of determining the turnover, the highest turnover of three preceding financial years upto 2020-21 shall form the turnover for calculation /of the incentive.
Bansal also request to defer new MSME payment rule under Section 43B(h) because it leads to many deregistration of UDHYAM REGISTRATION by MSME. Solar panel power systems should be promoted in industrial sector by providing subsides in installation of solar panels to reduce the power burden, like it’s provided for residential areas. The limit of e-way Bill should be increased from Rs 50,000 to Rs 2 lakhs in J&K UT.
In Jammu and Kashmir new warehousing facilities should be provided in the major districts to promote trade and it will be beneficial for both traders and industries, it will also generate a lot revenue for the state.
The minister, Piyush Goyal patiently heard all the points of Dr Sanjay Bansal and promised to consider their demands on priority