JAMMU: A delegation of Chamber of Commerce & Industry Jammu, led by President Arun Gupta called on Ram Chandra Prasad Singh, Union Minister of Steel, Government of India at Jammu and discussed with him various issues.
The CCI delegation, comprising Anil Gupta, Sr Vice President; Rajeev Gupta, Jr Vice President; Gaurav Gupta, Secretary General and Rajesh Gupta submitted a representation highlighting various demands. The CCI demanded that Steel Ministry of India should install a big PSU Unit in Jammu to meet the demand of local contractors and local dealers for supply of steel besides employment at large. “The yard of Steel Authority of India situated in Jammu, which is feeding entire J&K, is not fully operational due to availability of limited stocks, thus defeating the purpose for which it was established.
We request that all the stocks should be available in the yard of Steel Authority of India so that the registered units can take benefit of the same,” CCI pleaded. Further, the delegation also explained that before GST local scrap was sourced through SICOP which had notional entry for VAT. However after GST, iron scrap is attracting 18 percent GST. This has resulted in large number of fake invoices being traded putting the secondary steel manufacturers in a legal tangle along with high cost of inventory. To curb this menace, scrap should attract 5 percent GST, CCI demanded.
The Union Minister assured to consider the demands and suggestions put forth by CCI and thereafter take the requisite measures in this direction.
