The charge of the Jammu and Kashmir Union Territory reveals that the policy for the concession of the state goods and services tax (SGST) for implementing agencies who are engaged in the development of the power projects for over 3000 megawatts (MWs) in Chenab valley.
The finance department of Jammu and Kashmir UT has held concerning the policy for reimbursement of State Goods and Services Tax (SGST) to implement the agency engaged in building the 540 MW Kwar hydroelectric project, 1000 MW Pakal Dul hydro project of 624 MW Kiru project, and 850 MW Ratle project.
“Under the RSGSTPP scheme, the Government will reimburse to executing agency the SGST paid against the bills raised by the supplier of goods and services in relation to the development and construction of power projects namely 540 MW Kwar Hydro Electric Project (HEP), 1000 MW Pakal Dul HEP, 624 MW Kiru HEP and 850 Ratle HEP, view the notification.”
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As per the directions rolled out through the council for the concession beneath the policy will be worked out for the quarterly grounds to which one can claim on the quarter basis for January to March, April to June, July to September and October to December.
“Any supply invoice which is found on investigation to be false and fabricated shall lead to the rejection of the claim for the whole quarter or the proceedings shall be initiated for recovery of the reimbursement paid to the executing Agency for the same period, if any, read the notification.”
The policy as per the notification is to be engaged to promote the investment for the power project in the J&K UT.
