Tuesday, Oct 24, 2017 | Last Update : 09:23 AM IST

Industrial units in hill states to get budgetary support: Prabhu

PTI
Published : Oct 7, 2017, 7:02 pm IST
Updated : Oct 7, 2017, 7:03 pm IST

The scheme offered as a measure of goodwill to units eligible for drawing benefits under earlier excise duty exemption.

The government has approved a new scheme to provide budgetary support to industrial units in hilly states including Jammu and Kashmir and Himachal Pradesh under the GST regime, said Union Commerce Minister Suresh Prabhu on Saturday.
 The government has approved a new scheme to provide budgetary support to industrial units in hilly states including Jammu and Kashmir and Himachal Pradesh under the GST regime, said Union Commerce Minister Suresh Prabhu on Saturday.

New Delhi: The government has approved a new scheme to provide budgetary support to industrial units in hilly states including Jammu and Kashmir and Himachal Pradesh under the GST regime, Union Commerce Minister Suresh Prabhu said 

"A new scheme of budgetary support under GST regime to the units located in states of Jammu and Kashmir, Uttarakhand, Himachal Pradesh, North East states approved," he said in a series of tweets.

He said the scheme was offered as a measure of goodwill to units eligible for drawing benefits under earlier excise duty exemption and refund schemes.

Under the GST regime, there is no provision for exemption but there is one section under the Act which permits refunds.

The minister said that recognising industry's concerns on withdrawal of exemptions, budgetary support for residual period as part reimbursement of GST was provided.

"We are responsive to industry's concerns, shall work together to boost growth, exports, employment," he added.  

Tags: goods & services tax, suresh prabhu
Location: India, Maharashtra, Mumbai (Bombay)