J&K Govt. notifies
scheme for providing budgetary support to manufacturing units to come into
operation from July 8, 2017, till the last date of Industrial Policy 2016; Said
scheme shall be limited to reimbursement of tax which accrues to State Govt.
under J&K GST Act (i.e. SGST) after adjustment of input tax credit of SGST
and IGST on supply of finished goods by manufacturing units; As per the
definitions clause, “eligible unit” shall mean a manufacturing unit registered
as on July 7, 2017 under J&K VAT Act and also formally registered with
Dept. of Industries and Commerce / Directorate of Handicrafts Handloom except
units manufacturing specified goods (Annexure A) and units eligible for
reimbursement under SRO 519 dated December 21, 2017; However, benefit of
reimbursement shall not be extended to industrial units who are procuring inputs
exclusively from composition dealers or from any unregistered persons, and to
those who make supply of services or interstate supplies of finished goods
either directly or indirectly or through intermediaries or proxies;
Reimbursement shall be worked out on quarterly basis for which, claims would
also require to be filed by 15th of succeeding month after end of quarter;
As per Annexure A, the scheme shall apply to 17 goods such as repacked goods,
bricks & tiles, soft drinks, TVs, ACs, Refrigerators and Washing Machines
when sold under brand name of other products, tobacco and its products, and
arms & ammunition including accessories thereof; Scheme also lays down the
manner of budgetary support, provides for inspection of eligible unit,
repayment by claimant / recovery and dispute resolution : J&K Finance Dept.
Notification
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