Traders and industrialists to go on strike
If government fails to pay old VAT and GST refunds within 30 days
Ludhiana: A meeting of Federation of Industrial and Commercial Organization(FICO), on Monday, held under the chairmanship of Gurmeet Singh Kular President FICO and Rajeev Jain General Secretary FICO regarding the refund of VAT and GST of the Industry.
Crores of rupees of our industry is held up with the State and Center Government, said Kular, adding that it is the irony of fate at time of election the government assigns all the help the Industry but after elections everything has forgotten. “We may mention that almost all capital of industry is withheld with the government”, they said, adding industry is paying huge interest to banks.
What to talk of GST, when VAT is not refunded, he added.
It was unanimously decided in meeting that memorandum should be sent to the Chief Minister Punjab to arrange the refund otherwise 60 per cent of industry will be closed in due course.
Association has decided that if old VAT and GST is not refunded, the traders and industrialists will start agitation and will go on the strike, said Kular.