Clarification On GST
Query (Issue) Started By: – CA Alkesh Kasliwal Dated:- 13-8-2016 Last Reply Date:- 10-7-2017 Goods and Services Tax – GST
Got 7 Replies
GST
My Query is that
Many of the manufacturing unit get exemption by State Govt. of VAT And CST under industrial Promotion Policy 2014 in Madhya Pradesh for Five from the date of Commencement of production of New units
So my query is that whether the same exemption is also available for the aforsaid entity or not
Please clarify.. As soon as possible
Reply By Rajagopalan Ranganathan:
The Reply:
Sir,
It all depends on the provision of GST law to be enacted, rules to be framed under the law and Notifications to be issued under the law and the rules. Therefore it is too
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continue to get to the assessee upto the period the exemption is given under VAT regime. Even earlier when Sales tax was changed to VAT the exemption made available were continued upto the period of eligibility. Thanks.
Reply By YAGAY AND SUN:
The Reply:
Such State specific industrial promotion scheme shall be ended and refund mechanism after payment of GST will come into picture.
Reply By Ganeshan Kalyani:
The Reply:
Sir, agreed but those companies which have already invested huge capital and the Govt. Has already given them exemption for a particular period. I guess these exemption shall continue until such period. However I agree that those are planning to invest in GST regime the exemption shall not be given. Thanks.
Reply By KRT
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