J-K industrialists appeal for VAT remission extension

A delegation of industrialists met state Finance Minister Abdul Rahim Rather and hand over a memorandum of demands to him.

The main demands include VAT remission extension, annual assessment of raw material, finished goods for toll tax exemption, 3 per cent interest subsidy to industrial units set up prior to 2002 and reduction in electricity duty, industrialists Arun Gupta said.

The industrialists also raised the demand for creation of new industrial estates and marketing support to local Small Scale Industrial Units, he said.

Several issues related to development of industries were also discussed in the meeting, Gupta said.