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TMI BlogJammu and Kashmir Reimbursement of State Taxes for encouraging large investments for industrial development in the State of Jammu and Kashmir.X X X X Extracts X X X X X X X X Extracts X X X X ..... nt of the input tax credit paid by the eligible manufacturing units. 1. Short title and commencement.-The scheme shall be called as Jammu and Kashmir Reimbursement of State Taxes for encouraging large investments for industrial development in the State of Jammu and Kashmir. Objective.-The State Government in order to encourage large investments as per policy targets set under Industrial Policy, 2016 has decided that it would provide budgetary support to the eligible units by way of part reimbursement of the State Goods and Services Tax, paid by the Industrial unit after adjustment of Input Tax Credit on supply of finished goods manufactured by it. The scheme shall be applicable to only such existing units undergoing substantial expansion or to such new units being set up on or after 01-02-2019. 2. Definitions. 2.1 Eligible unit means- (a) a unit having GST registration for the premises as a place of business, where manufacturing activity is already being carried out by the Industrial Unit and the same is undergoing substantial expansion involving additional investment of rupees fifty crores or above in plant and mac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0.00 0.00 Total ₹ 118000.00 Sale value of goods ₹ 120000.00 SGST @9% 10800.00 7200.00 3600.00 3600.00 CGST @9% ₹ 10800.00 ITCIGST 18000.00 SGST @9% ₹ 10800.00 ITC CGST 0.00 Total bill Value ₹ 141600.00 ITC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mis-declaration to claim reimbursement would be in-eligible for the scheme and shall be liable for recovery of excess reimbursement paid 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 misdeclaration 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. The manufacturer applying for benefit under this scheme for the first time shall also file the following documents in the office of the concerned Assessing Authority :- (a) Registration certificate issued by Department of Industries and Commerce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (5) 1 17 or 35 Modified starch or glucose 75 Maize, maize starch or tapioca starch 2 18 Cocoa butter or powder 75 Cocoa beans 3 25 Cement 75 Lime stone and gypsum 4 25 Cement clinker 75 Lime stone 5 29 All goods 29 Any goods 6 29 or 38 Fatty acids or glycerine 75 Crude palm kernel, coconut, mustard or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.6 In cases where an entity is carrying out its operations in the State from multiple business premises, in addition to manufacture of specified goods by the eligible unit, under the same GST Identification Number (GSTIN) as that of the eligible unit, the eligible unit shall submit application for reimbursement of budgetary support along with additional information on the claim form as prescribed in Annexure-C or any other format as may be notified by the Commissioner. Explanation :-Industrial Units having Annual Turnover of more than ₹ 1.5 crores shall mandatorily submit Annexure C duly certified by a Chartered Accountant. 3.7 Under GST, one business entity having multiple business premises would generally have one registration in the State, in such situations where inputs are received from another business premises (of supplying unit) of the same registrant (GSTIN), the details of Input Tax Credit of State Tax availed by the supplying unit for supplies to the eligible unit shall also be submitted along with the claim form as prescribed in Annexure C or any other format as may be notified by Commissioner. Explanation : ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o which the claim relates. 5.2 The Assistant Commissioner/State Tax Officer of State Taxes, as the case may be, after such examination of the application as may be necessary, shall sanction reimbursement amount (to be calculated in the manner as shown in illustration) and forward the same in the prescribed format to the respective Additional Commissioners within one week after the receipt of application. 5.3 The concerned Additional Commissioners shall forward consolidated information of the concerned division to the Nodal Officer to be designated by Commissioner State Taxes for reimbursement of GST to the eligible prestigious industrial units by the end of the month in which application is received and a copy of the same shall be forwarded to Commissioner State Taxes for consolidation and submission to Government. 5.4 The concerned nodal officer shall credit the GST amount in the declared bank accounts of the Industrial Units referred to in the information forwarded by respective Additional Commissioners within seven days of receipt of consolidated information from the concerned Additional Commissioner. 5.5 The nodal officer shal ..... 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