TMI BlogJammu and Kashmir Reimbursement of Taxes for promotion of Small/Medium/Large Scale 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 ..... shmir. (2) It shall come into operation w. e. f. 8-7-2017 for an eligible unit and shall remain in force till the last date of Industrial Policy, 2016. 1.1 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 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. 2. Definitions 2.1 Eligible unit' means a manufacturing unit which was registered as on 7-7-17 in the Jammu and Kashmir Value Added Tax Act,2005 (now repealed) and also formally registered with the Department of Industries and Commerce/Directorate of Handicrafts Handloom except the following: (a) units manufacturing goods mentioned in Annexure-A to this notification (b) units eligible for re imbursement under SRO 519 dated 21-12-17 2.2 'Specified goods' means the goods manufactured by the Industrial Units as have bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion) 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. 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; namely:- (a) Registration certificate issued by Department of Industries and Commerce or Directorate of Handicrafts /Handlooms or Jammu and Kashmir Khadi and Village Industries Board or SICOP (b) A declaration and a certificate as per Annexure-B, to be submitted on one time basis. (c) An Affidavit-cum-indemnity bond, as per Annexure-C, to be submitted on one time basis, binding itself to pay th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Iron ore 16 74 All goods 15 Any goods 17 76 All goods 36 Any goods 16 85 Electric motors and generators, electric generating sets and parts thereof 31 Any goods 19 Any chapter Goods other than those mentioned above in S.Nos.1 to 18 3.5 In cases where an entity is carrying out its operations in the State from m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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/Commercial Taxes 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 findings of the inspection, the Assistant Commissioner /Commercial Taxes Officer of Commercial Taxes may sanction provisional reimbursement to the eligible unit. Such provisional reimbursement shall not continue beyond a period of six months. 5. Manner of Budgetary Support 5.1 The manufacturer shall file an application on prescribed format to be notified by Commissioner Commercial Taxes for reimbursement for the Tax paid in cash, other than the amount of Tax paid by utilization of input Tax Credit under Jammu and Kashmir Goods and Services Tax Rules 2017, to the Assistant Commissioner/ Commercial Taxes Officer, as the case may be, by the 15th day of the succeeding month after end of quarter after payment of tax relating to the quarter to which the claim relates. 5.2 The Assistant Commission ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... time allowed shall not be eligible for reimbursement of taxes for the period in which he fails to intimate the Department. 6.4 The procedure for recovery: Where any amount is recoverable from a unit, the Assistant Commissioner or Commercial Taxes Officer of Commercial 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 (ii) directing the manufacturer to deposit the full sum within 30 days of the issue of the demand note in the account head of State Taxes and submit proof of deposit to him/her. 6.5 Where the amount is not paid by the beneficiary within the time specified as above, action for recovery shall be taken in terms of the affidavit -cum-indemnity bond submitted by the applicant at the time of submission of the application, in addition to other modes of recovery. 6.6 Where any amount of reimbursement /or interest remains due from the unit, based on the report sent by the Assistant Commissioner/ Commercial Taxes Officer of Commercial Tax as the case may be, the authorized officer as designated by the Commissioner shall, after the lapse of 60 da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eof. 17 Tea (processed/unprocessed). Annexure-B Declaration Name of the Industrial Unit: . . . . . . . . . . . . GSTIN: . . . . . . . . . . . . Registration No . . . . . . . . . . . . (Department of industries/handloom/ handicrafts) Bank A/c No: . . . . . . . . . . . . Bank Name: . . . . . . . . . . . . Bank Branch: . . . . . . . . . . . . IFSC Code: . . . . . . . . . . . . MICR Code: . . . . . . . . . . . . Certificate I . . . . . . . . . . . .Proprietor/Partner/Director of M/s . . . . . . . . . . . .located at . . . . . . . . . . . .do hereby certify that the total number of employees working in my industrial unit is . . . . . . . . . . . . That I have provided employment to . . . . . . . . . . . .number of locals (constituting . . . . . . . . . . . .of the workforce) in my industrial unit as per the list attached along with C.P. Fund details Further . . . . . . . . . . . .%age of the wage bill is drawn in favour of the local workforce. That I shall be intimating to the Department with respect to any change in constitution, bank account, line of activity, and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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