Lok Sabha Confirms Imposition of President Rule in Manipur  ||  AP HC: Court Possesses Limited Scope of Judicial Review in Transfer Cases on Account of Exigencies  ||  Bom. HC: Can’t Evict Tenants Under Arbitration Act if Occupying Premises Falling under DA  ||  Delhi High Court Passes Permanent Injunction in Favour of ‘Peak XV Partners’  ||  Bombay HC: Condition that Younger Candidate Would be Preferred Over Older Candidate Violates COI  ||  Kar. HC Refuses to Entertain Petition Seeking Implementation of Circular Regarding Usage of ‘Dalit’  ||  Kar. HC: Rapido, Uber Can’t Operate in State Unless Relevant Guidelines Issued  ||  Delhi HC: Preserve CCTV Footage When Complaint against Dept. Regarding Illegal Detention in Received  ||  SC Refuses to Direct States to Establish Public Libraries  ||  SC: To Prevent Re-Litigation, Quasi-Judicial Bodies are Bound by Principles of Res-Judicata    

Cabinet approves Scheme of Budgetary Support under GST Regime to the eligible units located in States of Jammu and Kashmir, Uttarakhand, Himachal Pradesh and North Eastern States including Sikkim- (Press Information Bureau) (16 Aug 2017)

MANU/PIBU/1059/2017

Indirect Taxation

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi today has given its approval to the Scheme of providing Budgetary Support under Goods and Service Tax Regime for the eligible industrial units located in State of Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North Eastern States including Sikkim. Budgetary support of Rs. 27,413 crore for the said Scheme has been approved for the period from 1.7.2017 till 31.03.2027 for such industrial units located in aforesaid States which availed the benefit of Central Excise exemption prior to coming into force of GST regime.

The Government of India was implementing North East Industrial and Investment Promotion Policy (NEIIPP), 2007 for North Eastern States including Sikkim and Package for Special Category States for Jammu & Kashmir, Uttarakhand and Himachal Pradesh to promote industrialization. One of the benefits of the NEIIPP, 2007 and Package for Special Category States was excise duty exemption for first 10 years after commencement of commercial production.

Upon repeal of the Central Excise duty laws, the Government has decided to pay a budgetary support equal to the central share of the cash component of CGST and IGST paid by the affected eligible industrial units. The support shall be available for the residual period (ten years from the date of the commercial production) in the States of North Eastern region and Himalayan States. DIPP will notify the Scheme, including detailed operational guidelines for implementation of the scheme within 6 weeks. It is estimated that total number of 4284 eligible units located in the State(s) of Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North Eastern States including Sikkim will benefit from the above scheme.

Tags : SCHEME   APPROVAL   BUDGETARY SUPPORT   GST REGIME  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved