Tax Exemption To Himalayan, NE States Extended

Decision likely to benefit a total of 4,284 eligible units

Y.S. Rana

The writer is a Hamirpur based Himachali settled in Chandigarh

The Union Government has extended the tax exemption to Jammu and Kashmir, Himachal Pradesh, Uttarakhand and North East under special industrial package. The Union Finance Minister Arun Jaitley told media persons that the Cabinet Committee on Economic Affairs (CCEA) in its meeting cleared the budgetary support of Rs 27,413 crore to these states extending from July 1, 2017 to March 31, 2027. Leader of Opposition and former Himachal chief minister Prem Kumar Dhumal welcomed the central government’s step and hoped that it would help in development of industries in the state. Industrialists are overjoyed and it is hoped that migration of industries to other states would stop, said Yashpal Aggarwal who runs printing press at Baddi.

With this announcement, around 4,284 industrial units in these states will benefit from this relief under a new scheme facilitating refund of central share of Goods and Services Tax (CGST) and integrated GST (IGST). The relief is in lieu of tax exemption loss to them due to implementation of the Goods and Services Tax (GST) from July this year. It may be recalled that these units in the beneficiary states had been granted tax exemption for ten years after starting commercial production during the tenure of the NDA government led by the former Prime Minister AB Vajpayee for industrial promotion. The scheme will be implemented within six weeks after it is notified by the Department of Industrial Policy and Promotion (DIPP).

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi has given its approval to the Scheme of providing Budgetary Support under Goods and Service Tax Regime for the eligible industrial units located in Jammu and Kashmir, Uttarakhand, Himachal Pradesh and North Eastern States including Sikkim. Budgetary support of Rs. 27,413 crore for the said Scheme has been approved for the period from 1.7.2017 till 31.03.2027 for such industrial units located in aforesaid States which availed the benefit of Central Excise exemption prior to coming into force of GST regime.

Notably, the Government of India was implementing North East Industrial and Investment Promotion Policy (NEIIPP), 2007 for North Eastern States including Sikkim and Package for Special Category States for Jammu & Kashmir, Uttarakhand and Himachal Pradesh to promote industrialization. One of the benefits of the NEIIPP, 2007 and Package for Special Category States was excise duty exemption for first 10 years after commencement of commercial production. Upon repeal of the Central Excise duty laws, the Government has decided to pay a budgetary support equal to the central share of the cash component of CGST and IGST paid by the affected eligible industrial units. The support shall be available for the residual period (ten years from the date of the commercial production) in the North Eastern region and Himalayan States. DIPP will notify the Scheme, including detailed operational guidelines for implementation of the scheme within six weeks. It is estimated that total number of 4284 eligible units located in Jammu and Kashmir, Uttarakhand, Himachal Pradesh and North Eastern States including Sikkim will benefit from the above scheme.

Himachal-o-Meter

The state’s ups and downs this week

ABB India To Upgrade 20 Sub-Stations In Himachal

Shimla: ABB India has plan to upgrade 20 sub-stations equipped with the latest control and protection technology to allow future digitisation in Himachal Pradesh, ABB India said in a statement. The order placed by the state utility, Himachal Pradesh Electricity Board Limited (HPSEBL), supports India’s Smart Grid Vision and the government’s ambition of providing reliable power to the most remote regions, the statement added. “We are thankful to our customer Himachal Pradesh State Electricity Board for making ABB their partner of choice. ABB India has been partnering with India’s National Smart Grid Mission with global technology solutions made in India to help customers transition to the next level of digital growth,” said Sanjeev Sharma, MD, ABB India, in the statement. “The recently-launched 180 ABB Ability digital solutions for various sectors can increase automation and reliability of power supply for the nation as we move towards a smarter and greener grid,” he added. ABB India will deploy its Relion electronic relays for the protection, control, measurement and supervision of power systems at all 20 sub-stations. It will also deliver one of India’s first fully operational digital sub-stations for the country’s largest IT park in Kerala.

Five Killed As Bus Rolls Down Into Gorge

Kullu: Five persons, including three women, died and eight others were injured as a Himachal Road Transport Corporation (HRTC) bus rolled down a deep gorge on Aut-Luhri road near Khanag in Anni subdivision of Kullu district. Anni DSP Baldev Thakur said three persons died on the spot and two others succumbed to their injuries at Banjar hospital. The ill fated bus that was on its way from Kullu to Bagipul reportedly halted at a kiosk for refreshment near Mashnu Nullah. Driver was out of the bus when somebody meddled with the controls and set the bus moving. The bus was reportedly having 25 passengers but only 13 of them were inside when the incident occurred. The incident was captured on camera. The DSP said that during preliminary investigation it was found that Inder Singh had muddled with the controls and he was admitted in Nagwain hospital by someone. He added that police had taken custody of the alleged accused. He said that further investigation of the case was in progress. DC Kullu Yunus Khan distributed  interim relief of Rs 20,000 each to the next of kin of the deceased and Rs 10,000 each to the injured. The balance amount of relief according to the government relief manual would soon be released to the victims, he added.

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