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UP govt extends 100% tax rebate on foreign export
February, 26th 2010

In a major tax incentive to the export sector, UP government, on Thursday, announced to extend 100% tax exemption to those entrepreneurs whose products are exported out of India. Uttar Pradesh is a major exporter of handicrafts, electronic goods and leather goods.

According to a press relese issued by Udyog Bandu, the order will come into effect from April next. A notification in this regard was issued by the state tax and registration department on Wednesday. The order provides for tax relief under the Uttar Pradesh Value Added Tax Act, 2008 on the turnover of direct sale to or direct purchase by manufacturer-exporter of any raw material, processing material, consumable stores, spare parts, accessories, components, lubricants fuel other than petrol and diesel.

Besides, packing materials for use in the manufacture of goods by manufacturer-exporter or in the packing of goods manufactured by him, are also eligible for relief subject to certain conditions.

At present, as per Uttar Pradesh Value Added Tax Act, 2008 tax is payable by manufacturer-exporters on purchase of raw material etc, with the provision for refund of such tax paid within 30 days after payment. This entailed a cumbersome process for the exporters with wastage of precious time and resources.

According to the provisions of the new notification, relief on tax shall be available to only those manufacturer-exporters who submit proof of export of manufactured goods out of India and the selling dealer submits a declaration obtained from manufacturer-exporter on a format prescribed by the Commissioner, Commercial Tax.

If the manufactured goods are not exported out of India, manufacturer-exporter, claiming the benefit under the provisions of this notification, shall be liable to pay the prescribed tax on the purchase of such goods and also interest from the date of purchase of such goods. As a safeguard against misuse of this new facility, penal action under Section 54 of Uttar Pradesh Value Added Tax Act, 2008 and also under Indian Penal Code has been provided.

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