Policy

Industry allowed to opt between Net GST, incentivised SGST in Punjab

PTI Chandigarh | Updated on March 06, 2019 Published on March 06, 2019

Exporters say many were not aware that refund of input duties under I-GST would be much higher.   -  Getty Images/iStockphoto

Punjab cabinet on Wednesday approved an amendment to the Punjab Goods & Services Tax Act 2017 to enable industrial units choose between Net GST incentives and incentivised SGST on intra-state sale.

The Cabinet meeting was chaired by Chief Minister Captain Amarinder Singh, as per an official release.

With the new move, units which have filed their common application form on the ‘Invest Punjab’ business portal between October 17, 2017 and October 17, 2018 will be allowed to have one-time option to choose either for Net GST incentives or incentivised SGST on intra-state sale, it said.

Such units shall be allowed to exercise this option within 90 days from the date of the notification.

The incentivised State Goods and Services Tax (SGST) to be considered for reimbursement would mean that the eligible unit will be entitled to get reimbursement of SGST amount paid through cash ledger against the output liability of SGST on sale of eligible products.

The eligible unit shall first have to utilise all the eligible Input Tax Credit available in its credit ledger maintained on the common portal, including eligible ITC of Integrated GST as provided under section 49 of the Act as may be amended from time to time, before adjusting the SGST amount through cash ledger.

Published on March 06, 2019

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill.

In these difficult times, we, at BusinessLine, are trying our best to ensure the newspaper reaches your hands every day. You can also access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all our readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. You can help us by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section.

Our subscriptions start as low as Rs 199/- per month. A yearly package costs just Rs. 999 – a mere Rs 2.75 per day, less than a third the price of a cup of roadside chai..

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor