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Wednesday, Mar 20, 2002

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Gujarat quake-hit areas -- Duty waiver extended for housing inputs

K.R. Srivats

NEW DELHI, March 19

CEMENT and steel supplied for reconstruction or repair of private buildings in earthquake-affected areas of Gujarat will be exempted from Excise duty till March 31, 2003.

Industry sources said that the Finance Ministry has extended the Excise duty exemption granted on supplies of cement and steel to earthquake-hit areas of Gujarat by another year.

"The exemption granted on March 26, 2001 was available till March 31, 2002. Now, it has been extended by one more year by the Revenue Department,'' they added.

A massive earthquake measuring 6.9 on the Richter scale, with epicentre in Bhuj, struck Gujarat on January 26 last year resulting in widespread devastation of one of the country's top industrial States.

In March 2001, the Finance Ministry had announced Excise duty exemption on all cement and steel supplied for reconstruction or repair of private buildings in affected areas of the State.

The exemption, which came with certain stipulations, was available for reconstruction or repair of private buildings, residential or non-residential.

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