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Duty exemption for companies in hilly states extended
Monday, July 31, 2006
A notification, extending the excise duty extension under the industrial package implemented in these states from January 3, 2003, was issued yesterday, the Director of Industries B S Nanta said.
The major incentives under the industrial package included income tax holiday and excise duty exemption for new and expanding units in three special category hilly states and the original period of the package was up to March 31, 2013.
While the income tax holiday was notified up to March 31, 2013, the excise duty exemption was curtailed up to March 31, 2007.
The package has been opposed by neighbouring states like Haryana and Punjab, besides some southern states on the grounds that it was resulting in flight of industry from their states to these specially category states.
Source: PTI
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