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of <h1>Karnataka Issues Circular on Certification Process for Interest-Free Loans Under GST Act 2017 for Industrial Units.</h1> The Government of Karnataka has issued a circular detailing the certification process for interest-free loans under the Karnataka Goods and Services Tax Act 2017, which serve as incentives for industrial units. These incentives, previously based on VAT, have been transitioned to the SGST framework following the GST implementation on July 1, 2017. The circular outlines the procedures for verifying and certifying eligible amounts, including the computation of eligible Gross and Net SGST. It also specifies the documentation required from industrial units for claiming these incentives and mandates a three-month processing timeline for certification requests.
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