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Puducherry Industry body seeks SGST reimbursement for new industries for five years

Updated: Feb 16, 2023 02:08:25pm
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Puducherry Industry body seeks SGST reimbursement for new industries for five years

Puducherry, Feb 16 (KNN) The Puducherry Industrialists Association in a meeting with Chief Minister N. Rangasamy on Wednesday urged him to intervene in the framing of the new industrial policy, taking into consideration the plan of action initiated by States and other Union Territories to attract investment.

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The delegation requested the government to take a decision on reimbursement of SGST by the Industries Department for new industries for five years or to the value of actual investment made, provision for concessional power tariff as given by Daman and Diu administration, and exemption from property tax for 10 years.

As per reports, the association has submitted a 10 points memorandum to the cabinet, urging them to consider measures to arrest the slide in industrial activity following migration of industries to the rest of the country, and due to the closure of textile mills.

They have also appealed to the government to provide various concessions to the entrepreneurs. It urged the government to ensure 35 per cent investment subsidy without any ceiling, 50 per cent concession of approval charges levied by Puducherry Planning Authority and reimbursement of stamp duty.

The government should also study the Industrial Policy of Andhra Pradesh and Telangana governments. Both the governments ensure online clearance for projects within 21 days, the memorandum said.

“Administrative delay for approval causes enormous hardship to those interested in setting up ventures. It delays commencement of production, sales and puts the burden of additional interest payment on them. The officers should be made accountable for the delay,” it added.

The memorandum also highlighted the difficulties faced by industrialists due to dependence on other states for supply of raw material and finding market.  (KNN Bureau)

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