J&K Exemption - No more exemption for units set up after 31.03.2016
NOTIFICATIONS 56/2002 CE and 57/2002 CE provide exemption to the new Industrial Units set up / Units undertaking substantial expansion in specified areas of Jammu & Kashmir on or after 14th day of June 2002. These Notifications have been amended to stipulate that the exemption is applicable only to the units set up up to 31/03/2016. As per the amendment, exemption is applicable only to the:
1. New industrial units which have commenced their commercial production on or after the 14th day of June 2002, but not later than the 31st day of March, 2016,
2. Industrial units existing before the 14th day of June 2002, but which have, undertaken substantial expansion by way of increase in installed capacity by not less than twenty-five per cent. on or after the 14th day of June, 2002, but not later than 31st day of March, 2016
3. Units existing before 14th day of June, 2002, but made new investments on or after the 14th day of June 2002, but not later than the 31st day of March 2016, and such new investment is directly attributable to the generation of additional regular employment of not less than twenty-five per cent. over and above the base employment limit.
A new paragraph has also been inserted to restrict the scope of exemption, which reads as under:
The exemption contained in this notification shall not apply to such goods which have been subjected to only one or more of the following processes, namely, preservation during storage, cleaning operations, packing or repacking of such goods in a unit container or labeling or re-labelling of containers, sorting, declaration or alteration of retail sale price and have not been subjected to any other process or processes amounting to manufacture in the State of Jammu and Kashmir.".
Notification No. , Dated January 22, 2016