New Delhi, Apr 25 (UNI) With Goods and Services Tax (GST) is all set to be implemented from July 1, 2017, Revenue Secretary in the Finance Ministry Hasmukh Adhia today termed IGST, one of the components of the proposed indirect tax reform, as a booster for Make-in-India initiative since it would provide a level playing field to both domestic as well as global manufacturer. "The tax burden on domestic products will be equivalent to equivalent to imported goods under new regime. The government will not earn any revenue from Integrated Goods and Services Tax (IGST),” Mr Adhia said while addressing the mediapersons at GST Conclave held here today. The IGST tax will be charged at the time of import of goods, he added. In an effort to make Indian exports more competitive, a provision of giving back 90 per cent of tax refund within seven days has been made. Alcohol, petroleum products that include crude oil, diesel, petrol, natural gas and air turbine fuel have been kept out of the GST ambit and will be charged by the states. On Tabacco, he said it’s a part of new tax regime but the centre can levy additional excise duty. On charge of Cess, the secretary said as of now it would be charged on tobacco products and luxury vehicles. The amount charged will be deposited into compensation fund that will be created once it is formally implemented. The states will be paid compensation from this fund only, he added. On incentives to business to business units, Mr Adhia said no exemption will be given to industries. However, a provision of reimbursement can be done. UNI ASH SNU 1539