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TMI BlogJammu and Kashmir Reimbursement of Central Taxes for promotion of Industries in the State of Jammu and KashmirX X X X Extracts X X X X X X X X Extracts X X X X ..... x regime to the Industrial Units located in States of Jammu and Kashmir, Uttarakhand, Himachal Pradesh and North East including Sikkim dated: the 5th of October, 2017 announced by Government of India is in operation. OBJECTIVE The State Government in recognition of the hardships arising due to withdrawal of remission from payment of Value Added Tax has decided that it would provide budgetary support to the eligible units by way of reimbursement of 42%of the Central Tax paid through debit in the cash ledger account maintained by the unit under Goods and Services Tax Act. 2. DEFINITIONS 2.1 Eligible Manufacturing unit' means a unit which avails the benefit of 58% reimbursement under Central Scheme namely Budgetary Support under Goods and Services Tax regime to the Industrial Units located in States of Jammu and Kashmir, Uttarakhand, Himachal Pradesh and North East including Sikkim dated: the 5th of October, 2017. 2.2 'Specified goods' means the goods manufactured by the Industrial Units as have been allowed by the department of Industries / Handloom/Handicrafts/Jammu and Kashmir Khadi and Village Industries Board/ Small Scale Industries Developme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the industrial unit, if any. Activity relating to concealment of input tax credit, purchase of inputs from unregistered suppliers (unless specifically exempt from GST registration) or routing of third party production or other activities aimed at enhancing the amount of reimbursement by mis-declaration would be treated as fraudulent activity and, without prejudice to any other action under law may invite denial of benefit under the scheme ab-initio. The units will have to declare total procurement of inputs from unregistered suppliers and from suppliers working under Composition Scheme under Jammu and Kashmir Goods and Services Tax Act, 2017. The grant of reimbursement under the scheme shall be subject to compliance of provisions relating to any other law in force. 3.4 The manufacturer applying for benefit under this scheme for the first time shall have to file the following documents: a) application for registration on prescribed format to be notified by Commissioner Commercial Taxes. b) the copy of the remission order latest issued by the jurisdictional Assessing Authority where such industrial unit was registered with the department of Commercial Taxes Jammu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Crude palm kernel, coconut, mustard or rapeseed oil 7 30 All goods 56 Any goods 8 33 All goods 56 Any goods 9 34 All goods 38 Any goods 10 38 All goods 34 Any goods 11 39 All goods 26 Any goods 12 40 Tyres, tubes and flaps 41 Any goods 13 72 Ferro alloys, namely, ferro chrome, ferro manganese or silico manganese 75 Chrome ore or manganese ore 14 72 or 73 All goods 39 Any goods, other than iron ore 15 72 or 73 Iron and steel products 75 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to only those industrial units who provide employment to permanent residents of the State of Jammu and Kashmir as per guidelines of Industrial Policy 2016. 3.11 The industrial units making purchases partly from the persons operating under Composition Scheme under section 10 of the Jammu and Kashmir Goods and Services Tax Act, 2017 and / or from unregistered persons shall submit the details of the such inputs duly certified by Chartered Accountant on prescribed format detailed as Annexure D or any other format as may be notified by Commissioner. The reimbursement to such industrial units will be in proportion to the inputs purchased from the registered dealers after adjustment of the input tax credit. 4. INSPECTION OF THE ELIGIBLE UNIT 4.1 The reimbursement under the Scheme shall be allowed to an eligible unit subject to an inspection by a team constituted by Commissioner Commercial Taxes. The inspection report shall be made available to the jurisdictional Assistant Commissioner/State Tax Officer before sanction of the reimbursement. Reimbursement amount will be released only after the findings to these teams are available. Provided that where delay is expected in such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thereon. In case of recovery-or voluntary adjustment of excess payment, repayment, recovery or return, interest shall also be paid by unit at the rate of fifteen per cent per annum calculated from the date of payment of refund till the date of repayment, recovery or return. 6.2 When any amount under the scheme is availed by wrong declaration of particulars regarding meeting the eligibility conditions in this scheme necessary action would be initiated and concluded in the individual case by the Office of concerned Assistant Commissioner or State Tax Officer of State Taxes, as the case may be. 6.3 That the Industrial Unit failing to intimate the Department any change in its constitution, bank account, line of activity, and title of the firm within the time allowed shall not be eligible for reimbursement of taxes for the period in which he fails to intimate the Depadment. 6.4 The procedure for recovery: Where any amount is recoverable from a unit, the Assistant Commissioner or State Tax Officer of State Tax, as the case may be, shall issue a demand note to the unit (i) intimating the amount recoverable from the unit and the date from which interest thereon is due and ( ..... 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