CBEC prescribes procedure for manual disbursal of budgetary support under GST regime to units located in States of Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North East including Sikkim, pursuant to Notification dated October 5, 2017 issued by Department of Industrial Policy & Promotion (DIPP); Explains that scheme of budgetary support shall be available only to units which were eligible for availing benefits under earlier excise duty exemption/refund schemes and shall come into operation w.e.f. July 1, 2017 and shall remain in operation for residual period; Budgetary support which shall be worked out on quarterly basis, shall be sum total of (i) 58% of CGST paid u/s 49 of CGST Act, 2017 and (ii) 29% of IGST paid u/s 20 of IGST Act, but same shall be reduced by percentage value of inputs procured under Composition Scheme out of total inputs value; While eligible units shall be required to obtain one-time registration and file application for budgetary support to jurisdictional officer in prescribed format, such applications for quarter July – Sept 2017 shall be filed manually and approval/ processing thereof shall also be undertaken manually; Directs issuance of trade facility to initiate registration process and receipt of application for payment of budgetary support for said quarter, while clarifying that a separate Circular shall be issued on manner of allocation by DIPP and direct transfer of funds of sanctioned amount into bank accounts of beneficiaries : CBEC Circular
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