GUWAHATI: The Federation of Industries in the North Eastern Region (FINER) welcomes the approval accorded to the scheme for providing budgetary support under the Goods and Service Tax Regime for eligible units in the North Eastern states by the Cabinet Committee of Economic Affairs (CCEA), chaired by the Prime Minister, Narendra Modi on Wednesday.
While the details of the scheme shall be available when the DIPP notifies the scheme including detailed operational guidelines, this decision of the central government is a step in the right direction. It is something FINER has been demanding for the last few months now, since the implementation of GST became certain, according to a statement issued by the FINER here.
“As per the indication, and in absence of the details of the scheme, the Central Government has provided for budgetary support of its share of the Central Taxes to be refunded under the GST regime under the heads of CGST and IGST payments. We thank the state government, the Assam CM, and Finance minister, Assam, for articulating the case of North East Industries in the GST Standing Committees and councils.
“We also urge upon the state government (s) to come up with their scheme and detailed operating guidelines for the refund of SGST component to the eligible industries under the extant schemes, so that the units are able to enjoy the promised benefits under the new tax regime,” the statement said.
