The Jammu and Kashmir Reimbursement of Taxes for promotion of Small/Medium/Large Scale Industries in the State of Jammu and Kashmir

Feb 06, 2018 | by Avantis RegTech Legal Research Team

The Government of Jammu and Kashmir vide notification dated February 05, 2018 in order to provide budgetary support to the eligible manufacturing units operating in the State of Jammu and Kashmir has notified the Jammu and Kashmir Reimbursement of Taxes for promotion of Small/Medium/Large Scale Industries in the State of Jammu and Kashmir scheme for providing budgetary support to the manufacturing units in the shape of reimbursement of State Taxes paid under Jammu and Kashmir Goods and Services Tax Act, 2017. The scheme shall be limited to the tax which accrues to the State government under the Jammu and Kashmir Goods and Services Tax Act, 2017 after adjustment of the input tax credit paid by the manufacturing units.

The objective of this scheme is to provide budgetary support to the eligible units by way of part reimbursement of the Goods and Services Tax, paid by the unit after adjustment of Input Tax Credit on supply of finished goods manufactured by the Industrial Units located in the State of Jammu and Kashmir except those falling in Annexure-A.

This notification shall deemed to have come into operation w. e. f. July 08, 2017 for an eligible unit and shall remain in force till the last date of Industrial Policy, 2016.

[SRO 63]

 

URL: https://jkcomtax.gov.in/JKPortal/download.htm?URL_TO_DOWNLOAD=/webupload/NOTI/SRO63GST2018.pdf


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