The Centre has decided to partially restore the excise duty exemptions to Himachal Pradesh and Uttarakhand.
These exemptions were withdrawn for new industrial units on March 31, 2010, three years short of the 10-year duration proposed by the NDA regime in 2003.
But following protests by Himachal, the Union Finance Ministry has conveyed that “full excise duty exemptions will be allowed to all industrial units which have come into production before March 31, 2010 if they undertake capacity expansion, or set up fresh plant and machinery”. The benefits will be extended up to 10 years from the date of production.
Welcoming the decision, Chief Minister Prem Kumar Dhumal said, “This is a good booster dose but my demand remains restoration of the package till 2013, or extending the full package to 2020.”
Sources said the decision was taken on the recommendation of Central Board of Excise and Customs (CBEC) .
Source : Indian Express
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