ENA State 2018-12-08 10:32:46 <p><strong>New Delhi, Dec 8 (KNN)</strong> After approving one time settlement scheme to revive sick industrial units in Punjab, the state government has decided to refund value added tax (VAT) by March 2019.</p> <p>Minister for Industries Sunder Sham Arora said the state government would refund value added tax (VAT) by March 2019.</p> <p>Earlier, specific dates were given twice by Arora to the industrialists, whose VAT refunds amounting to several crores were still pending.</p> <p>The Minister for Industries who was in the city to inaugurate the 5th MACHMA Expo-2018 along with other dignitaries said the one-time settlement policy of the government would revive sick industrial units as most of their interest amount would be waived-off.</p> <p>He said in Mandi Gobindgarh over 200 sick units have been revived and new units were also coming up. </p> <p>As many as 24 new clusters will be made out of which seven will be in Ludhiana, he added. </p> <p>Besides, maximum fund would be given by the state government for making the cluster and a small amount to the tune of Rs 1.5 crore each would be borne by the industry, said Arora. </p> 21507 https://knnindia.co.in/news/newsdetails/state/punjab-govt-to-refund-vat-by-march-2019-industries-minister 2018-12-08 10:32:46 knnindia.co.in