Ludhiana – Delegation of Federation of Industrial & Commercial Organization, popularly known as FICO under the chairmanship of S. Gurmeet Singh Kular President met S. Rajpal Singh Khaira PCS Assistant Excise & Taxation Commissioner Ludhiana – I, regarding the pending VAT refund as Industry is going through the crucial phase of changeover, after the implementation of GST Industry is struggling to survive and to save the industry, as the government of Punjab has released Rs. 45 Crores to the Ludhiana (Dist I, II, III) So we request you to immediately release the pending VAT refund as an industry is paying interest on their Bank limits.
The substantial period for the Refund of VAT amount has already been passed, but the huge amount of industry’s money is stuck with the department, but no action has been taken. As VAT refund is not a grant or subsidy money, it is industry’s own money. We request you to process the VAT refunds at the earliest to facilitate the industry in this crucial period of change over. You are requested to order the Excise & Taxation Department to release the Vat refund up to 30.06.2017 otherwise the industry will become Sick.
Rajpal Singh Khaira PCS Assistant Excise & Taxation Commissioner Ludhiana – I, assured that in few days the VAT refund will be released on priority to facilitate the industry. Amongst present were S. Gurmeet Singh Kular President FICO, Shri Subhash Lakra Executive Member, and Shri Ravi Narang Executive Member FICO.