GST will not impact promised Madhya Pradesh tax incentives

Speaking at a CII event on 'Investment Opportunities' in Madhya Pradesh, chief minister Shivraj Singh Chouhan said implementation of the Goods and Services Tax (GST) will not impact tax incentives provided by the state currently.

“The tax concessions that we offer will continue after the implementation of GST, for which we will set up a task force, so that some of the benefits which were committed earlier will be continued,” Chouhan informed.

"VAT, CST and entry tax will be replaced with GST and whatever incentives the investors received under VAT or any other tax, will be protected under the GST regime,” the chief minister stated.

Ahead of the Global Investors Summit (GIS) to be held in October, the state has identified 10 focus sectors for investment which include textiles, automobiles, engineering, renewable energy, pharmaceuticals, etc.