Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 4] [Entire Act]

State of Assam - Subsection

Section 4(1) in Assam Industries (Tax Reimbursement for Eligible Units) Scheme, 2017

(1)Subject to other provisions, the amount reimbursable under this Scheme to the eligible unit shall be as below;
(i)For existing unit eligible under the Industrial and Investment Policy of Assam, 2008:- Where an existing eligible unit is holder or will be holder of Certificate of Entitlement in due course as per the terms of the Assam Industries (Tax Exemption) Scheme, 2009 framed pursuant to the industrial and Investment Policy of Assam, 2008 or an existing eligible mega unity to which the customized tax incentives has been granted by special notification issued by the Finances (Taxation) Department, pursuant to the Industrial and Investment Policy of Assam, 2008, shall, in respect of intra-State supplies made within the State, be entitled to reimbursement of 100% of the State tax (SGST) paid through debit in the electronic cash ledger account maintained by the unit in terms of sub-section (1) of section 49 the Assam Goods and Services Act, 2017 after utilization of the input tax credit of the State tax (SGST) ami Integrated tax (IGST) available until the amount of such tax reimbursement exceeds the un-availed quantum of monetary ceiling or till the expiry of residual period of eligibility, whichever is earlier:
Provided that if an existing eligible unit including a Mega unit to which the customized tax incentives have been granted, is unable to utilise or avail of the full amount of monetary ceiling within the specified period of exemption, it may make an application to the Finance (Taxation) Department for extension of period of eligibility. Upon examination of such an application, if the Finance (Taxation) Department is satisfied that the unit could not achieve the full quantum of monetary ceiling due to some genuine reasons and in order to sustain the industrial unit, it is necessary to extend such time limit, if may, by an order, extend such time limit by a further period not exceeding five years.
(ii)For existing unit eligible under the Industrial and investment Policy of Assam, 2014:- Where an existing eligible unit is holder or will be holder of Certificate of Entitlement in due course as per the terms of the Assam Industries (Tax Exemption) Scheme, 2015 framed pursuant to the Industrial and Investment Policy of Assam, 2014 or an existing eligible mega unit to which the customized tax incentives have been granted by special notification issued by the Finance (Taxation) Department, pursuant to the Industrial and investment Policy of Assam, 2014, shall, in respect of intra-State supplies made within the State, be entitled to reimbursement of 100% of the State tax (SGST) paid through debit in the electronic cash ledger account maintained by the unit in terms of sub-section (1) of Section 49 tire Assam Goods and Services Act, 2017 after utilization of the input tax credit of the State tax (SGST) and integrated tax (IGST) available until the amount of such tax reimbursement exceeds the un-availed quantum of monetary ceiling or till the expiry of residual period of eligibility, Whichever is earlier, irrespective condition of capacity utilization:
Provided that if an existing eligible unit including a Mega Unit to which the customized tax incentives have been granted, is unable to utilize or avail of the full amount of monetary ceiling within the specified period of exemption, it may make an application to the Finance (Taxation) Department for extension of period of eligibility , Upon examination of such an application, if the Finance (Taxation) Department is satisfied that the unit could not or is not in a position to attain the full quantum of monetary ceiling due to some genuine reasons sad in order to sustain the industrial unit, it is necessary to extend such time limit, it may, by an order, extend such time limit by a further period not exceeding five years.
(iii)For eligible new units and expansion units which commence their commercial production/operation during the period commencing from 1st July 2017 to 31st December, 2022:-
(a)Subject to other provisions of this clause, an eligible new unit or an expansion unit, which commences its commercial production/operation during the period commencing from 1st July, 2017 to 31st December, 2022, shall, in respect of intra-State supplies made within the State, be entitled to reimbursement of 100% of the State tax (SGST) paid through debit in the electronic cash ledger account maintained by the unit in terms of sub-section 1) of section 49 the Assam Goods and Services Act, 2017 after utilization of the available amount of the input Tax credit of the State tax (SGST) and Integrated tax (IGST).
(b)The time limit and monetary ceiling of such tax reimbursement for the eligible new unit and expansion unit shall be as per following scale:-
Category Limit of tax reimbursement
New unit Expansion unit
For units set up in areas other than specialparks specified in next Column For units set up in Plastic Park Bamboo Park,Food Park, Tea Park and other Parks developed by orin-collaboration with State/Central Government For units set up in areas other than specialparks specified in next column For units set up in Plastic Park. Bamboo Park,Food Park, Tea Pack and other Parks developed by or incollaboration with State/Central Government
Micro 15 (fifteen) years subject to maximum of 200% offixed capital investment. 15 (fifteen) years subject to maximum of 250% offixed capital investment. 15 (fifteen) year's subject to maximum of 150%of additional fixed capital investment 15 (fifteen) years subject to maximum of 200% ofadditional fixed capital investment.
Small 15(fifteen) years subject to maximum of 150% offixed capital investment. 15 (fifteen) years subject to maximum of 180% offixed capital investment: 15 (fifteen) years subject to maximum of 100% ofadditional fixed capital investment. 15 (fifteen) years subject to maximum of 120% ofadditional fixed capital investment.
Medium and Large 15 (fifteen) years subject so maximum of 150% offixed capital investment. 15 (fifteen) years subject to maximum of 150% offixed capital investment. 15 (fifteen) years subject to maximum of 100% ofadditional fixed capital investment. 15 (fifteen) years subject to maximum or 100% ofadditional fixed capital investment.
The time limit of 15 (fifteen) years shall be calculated from the date or commencement of commercial production/operation and shall stand reduced upto the date When the unit reaches the monetary ceiling of exemption or upto the date of closure of the eligible unit, if (the date of closure occurs prior to the expiry of the above mentioned period of 15 years.Further, the hotels/resorts above 2 star category and river cruise, being covered by definition of new unit, shall be eligible for tax reimbursement as per time limit and monetary ceiling as are applicable to a new unit.
(c)If an eligible new unit or a expansion unit or a Mega unit to which the customized tax incentives have been granted, is unable to utilize or avail of the full amount of monetary ceiling within the specified period of exemption, it may make an application to the Finance (Taxation) Department for extension of period of eligibility. Upon examination of such an application, if the Finance (Taxation) Department is satisfied that the unit could not or is not in a position to attain the full quantum of monetary ceiling due to some genuine reasons and in order to sustain the industrial unit, it is necessary to extend such time limit, it may, by an order, extend such time limit by a further period not exceeding five years.
(d)In case of eligible new units or expansion units, the extent of reimbursable amount of the State tax (SGST) shall be 100% Of the amount of tax paid until the amount of such tax reimbursement exceeds the quantum of monetary ceiling or till the expiry of period of eligibility, whichever is earlier, irrespective of condition of capacity utilization.
(e)A new eligible mega unit, Which Commences its commercial production/operation during the period commencing from 1st July, 2017 to 31st December, 2022 in terms of the eligibility criteria of Industrial and Investment Policy of Assam, 2014, to which the customized tax incentives are granted by special notification issued by the Finance (Taxation) Department, shall, in respect of in intra-State supplies made within the State, be entitled to reimbursement of 100% of the State paid (trough debit in the electronic cash ledger account maintained by the unit in terms of sub-section (1) of section 49 the Assam Goods and Services Act, 2017 after utilization of the available amount of the input tax credit of the State tax (SGST) and Integrated tax (IGST), subject to the quantum of monetary ceiling and the time limit for tax reimbursement, as laid down in the special notification:
Provided that the quantum of monetary celling that may be allowed to a Mega unit, shall not exceed 200% of fixed capital investment.
(f)If an existing unit makes an additional investment of not less than ten crore rupees for generation of power through green technology i.e. renewable sources of energy like solar plant Which results in substantial reduction of use of fossil fuels and such renewable source of energy results in replacement of conventional source of energy by at least 40% of regular consumption, such unit may make an application in the Finance (Taxation) Department for consideration of she investment for tax reimbursement. The Finance (Taxation) Department, after such examination and enquiry as may be deemed necessary, if it is satisfied that such investment qualifies for tax incentives, it may, by an order, declare the unit eligible for tax reimbursement, subject to the condition that the quantum of monetary ceiling and time limit of tax reimbursement shall not exceed those available for a medium and large scale unit.
(g)Micro, Small, Medium and Large units means investment in plant and machinery upto Rs.25 lakhs, Rs.5 crore, Rs.10 crore and above Rs.10 crore respectively or as prescribed or modified by the Government of India from time to time and applicable at the relevant time in individual cases.
(h)Fixed capital investment means and includes investment in plant and machinery and land and building connected directly with manufacturing process and in case of hotels/resorts above 2 Star category and river cruise, it shall mean and include investment in plant and machinery, land and building directly connected with hotel premises or investment made in river cruise of capital nature.
Explanation 1. - The investment in land shall mean the cost of land (used only for factory building) derived from the registration value of land or the actual cost of the land, whichever is lower, While the proportionate stamp duty and registration fees shall form the part of the cost of land, the cost of development of land shall not form the part of the cost of land.Explanation 2. - In case of hotels/resorts above 2 Star category, the Investment in land shall mean the cost of land (used only for hotel/resort building excluding vacant land) derived from the registration value of land or the actual cost of the land, whichever is lower, While the proportionate stamp duty and registration fees shall form the part of the cost of land, the cost of development of land shall not form the part of the cost of land.Further, the expression plant and machinery, for the purpose of hotels/resorts above 2 Star category arid river cruise, shall mean such plant and machinery as notified vide Government Notification No. FTX. 47/2013/Pt/2 dated 23rd March, 2015, published in the Assam Gazette, Extraordinary No. 68 dated 24th March, 2015, shown in the Schedule annexed to this Scheme.