Industry seeks support from PM and Punjab CM in view of covid-19
All Industries and Trade Forum national president Badish Jindal writes separately to both Pm and Punjab CM
Ludhiana: All Industries and Trade Forum national president Badish Jindal has written to Prime Minister requesting him to consider the fiscal and non-fiscal support to the trade in industry due to COVID19.
In a communication to the prime minister, it has been stated that the world is facing crisis due to COVID19. India is also facing its consequences and passing through very crucial time.
The communication further reads that “The trade & Industry is the back bone of the country and always contributes to the development of nation. But unfortunately the odd situation is gripping the Industry and it requires some special care from the government.”
Jindal has requested the prime minister to consider the following support measures:
• The 31 March is always a crucial date for trade and industry as it has to complete its accounts within the said period. It’s also the date of many compliances of department like Income Tax and GST. Considering the impact of COVID 19 all the compliance dates of returns and taxes should be postponed at least to 60 days.
• To giving a booster to the economy the GST should be exempted or reduced for a specific time period.
• The payment of all GST & Direct taxes should be postponed for at least 3 months.
• The industry is losing in production due to decline in demand; this is also resulting into delay in payments. As such it is requested that some benefits must be considered to industry on bank interest. Further the banks should be told to enhance the credit facilities on the basis of debtors list.
• The Industry is not in position to supply the material in tenders due to delay or non-availability of various raw materials. As such it is requested that the compliance date of all government tenders must be increased for a suitable period.
• Due to slowdown and closure the salary and wages bills are becoming a major burden for industry, as such the government must share this burden and further the industry should be exempted from the social security contributions such as Provident Fund & ESI.
• The court & tribunal hearings of all cases related to trade and Industry must be postponed for a suitable period.
• The refund process of GST should be made effective and paperless for giving a relief to trade and industry.
• All the inspections and verifications should be upheld for a suitable period.
• The physical submission of documents should be exempted in concerned cases and the trade and industry should be allowed to submit all documents electronically.
Concluding, Jindal hoped that the prime minister would consider the request and take action accordingly.
Meanwhile, he has also shot off a separate communication to Punjab Chief minister requesting to support to the trade and industry for its survival. He has taken up the following points in his communication:
• The industry is having the payment crunch so is not in a position to deposit the electricity bills, as such it is requested that the same should be postponed for a period of at least two months,
• The dates of all dues such as property tax, water sewage tax, excise duty and other taxes too requires a postponement.
• The consents such as PPCB or PUDA should be automatically enhanced for a period of six months without any paper formality. New NOC’s or Consents should be issued immediately without paperwork.
• The departments should be told to receive all requests electronically and requirement of papers should be called off for suitable time period.
• The GST department should be ordered to release all refunds without any delay and paper work.
• All inspections or visits of officers should be banned.
• The date of supply of material in state government tenders requires to be extended.
• The health department should be ordered to circulate free sanitizers, gloves & masks in workers colonies.
• All dates of hearings and cases of various departments should be extended for a suitable periods.