GST: CBEC Lays down Norms for Manual Disbursal of Budgetary Support [Read Circular]

Bagasse - CBEC - Taxscan

The Central Board of Excise and Customs (CBEC) has prescribed guidelines for manual disbursal of budgetary support under the new Goods and Services Tax (GST) regime.

Earlier, the Government had approved a Scheme of providing Budgetary Support under Goods and Service Tax Regime for the eligible industrial units located in State of Jammu & 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.

The circular issued by the Board on Tuesday specifies the procedure for registration and submission of application for budgetary support by the eligible units.

The circular clarified that or obtaining registration for the scheme, GSTN is an essential requirement.

Subscribe Taxscan Premium to view the Judgment
taxscan-loader