Maharashtra GST : Revision in Package Scheme of Incentives, 2013

By | May 25, 2018
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(Last Updated On: May 25, 2018)

Revision in the Package Scheme of Incentives, 2013
[Under the new GST Regime]

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For dispersion of industries to the less developed industrial areas of the state, Government of Maharashtra has been  st implementing Package Scheme of Incentives since 1964. With effect from 1 April 2013, Maharashtra Industrial  Policy of 2013 came into effect which is popularly known as the Package Scheme of Incentives, 2013 (‘PSI 2013’).  Amongst all the benefits available under PSI 2013, IPS through Refund of VAT is the main benefit available to eligible  st units. India joined the elite club of modern nations to implement Goods & Service Tax (GST) with effect from 1 July
2017. Maharashtra Value Added Tax (MVAT) was replaced by Goods and Service Tax. Accordingly, VAT based  incentives under PI 2013 were expected to be revised to GST based incentives with appropriate changes.  th Accordingly, Government of Maharashtra issued GR No. PSI-2017 / No. 197 / Ind.-8 dated 14 February 2018. Under  this GR, other benefits under PSI 2013 were kept intact; and only VAT based incentives were revised as follow.

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