The Government of Jammu and Kashmir on January 24, 2024, issued a circular regarding the amendment to notification no. SRO 521 dated December 21, 2017 lays down the scheme Jammu and Kashmir Reimbursement of Central Taxes for the promotion of Industries in the state of Jammu and Kashmir
The following has been amended namely: -
• It states that the words "Commercial Taxes" wherever appearing in the Scheme the words "State Taxes" shall be substituted.
• It states that Clause 4.1 related to the reimbursement of the scheme has been amended namely:-
“The Commissioner State Taxes shall select 33% of the reimbursement claims received in a quarter for the purpose of inspection by a team constituted for this purpose. The inspection report shall be made available to the Jurisdictional Assistant Commissioner/State Taxes Officer within seven days from the date of inspection. It shall be ensured that each eligible unit claiming reimbursement shall be inspected at least once in a financial year and selection of the unit which is repeated shall be based on higher turnover on a random basis or any specific input
The reimbursement claims of eligible units selected for inspection in a particular quarter shall not be processed unless the report from the inspection teams is received."
• In clause 5.1 which related to the manner of budgetary support, the words and figures "15th day" shall be substituted by words and figures "last day of the succeeding month"
• In clause 5.1, after the 4th proviso, the 5th proviso shall be inserted, namely: -
"Provided further that the eligible industrial units who have filed their claims beyond the prescribed timelines, before the issuance of this notification, can avail the benefit of the scheme provided that they have filed all the due returns under section 39 of Jammu and Kashmir Goods and Service Tax Act, 2017 and paid the tax due thereon in time.
[Notification No. SRO. 72]
