Jammu & Kashmir launches a scheme to reimburse 42% Central Tax for eligible manufacturers under CGST Act, 2017.
The Government of Jammu and Kashmir has introduced a scheme to support eligible manufacturing units in the state by reimbursing 42% of the Central Tax paid under the Central Goods and Services Act, 2017, after input tax credit adjustments. The scheme aims to alleviate challenges faced due to the withdrawal of VAT remission and is effective from July 8, 2017, until the central scheme for GST support is operational. Eligible units must comply with specific criteria, including sourcing inputs from registered suppliers and employing local residents. The scheme outlines detailed procedures for reimbursement claims, inspections, and recovery of excess payments.
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