PHD CHAMBER APPRECIATES THE EXTENSION OF CENTRAL EXCISE PACKAGE TO J & K

PHD Chamber welcomed the decision of Central Government to extend Central Excise Package to the State of Jammu & Kashmir.

Mr. Ashok Kajaria, President, PHD Chamber extended   gratitude to Dr. Manmohan Singh, Hon’ble Prime Minister of India and Mr. Pranab Mukherjee, Union Finance Minister for their support. He appreciated sustained efforts by Hon’ble Chief Minister Omar Abdullah for pursuing the matter with the Union Government.

Mr. Kajaria also thanked Mr. A R Rather, Finance Minister, J & K and Mr. Surjit Singh Slathia, Minister, Industry & Commerce, J & K. for their concerted efforts.

The fresh notification, besides, extending existing refund on Value Addition for ten more years, also provides exemption of requirement of Khasra Nos for establishment of any Industrial unit in J&K, for it being a neutral location. The existing units would also be covered under the fresh exemptions. The existing units can take substantial expansion or diversification with 25 per cent increase in capital investment on plant and machinery or increase in regular employment by the same percentage.

The state is endowed with the required skills and resource base offering immense business opportunities in hydro power generation, handloom and handicrafts exports, promotion of gems and jewellery industry and development of the tourism potential. We hope that this package would give the necessary boost to the industry in J & K which will usher an era of peace and prosperity in the state, added Mr. Kajaria.

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