BHOPAL: The state government will continue giving concessions and incentives to persons setting up industries in the state as per its policy despite the Goods and Services Tax (GST) coming into force in the country.
Ahead of the Global Investors Summit (GIS), the state government has made it clear that GST will not adversely impact its investment promotion initiatives. With the GST coming into force, a single tax regime will be implemented across the country. Industrialists desirous of setting up new industries have been seeking clarifications from the government about the impact of GST on the relaxations given to them by the cabinet committee on investment promotion (CCIP).
The state government has laid down different norms regarding investment in different sectors and various incentives and concessions are on offer for the investors. The cases where additional relaxation is sought, are put up before CCIP. The CCIP has been giving relaxations in commercial tax also. With GST coming into force, the state government will lose its control on tax. The industrialists are in a fix about what would happen post-GST.
Chief minister Shivraj Singh Chouhan, in a conversation with Free Press, said that the industrialists need not worry. He said the state government has given relaxations at its level through CCIP and they would continue. Chouhan said GST would be beneficial to the state in terms of investment. He said with a single tax system, the confusion among foreign investors would be removed. Chouhan emphasised that GST would be beneficial to the state.
