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Thursday, Nov 11, 2004

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Excise exemption for new units in Kutch extended by one year

Our Bureau

New Delhi , Nov. 10

THE Centre has extended by yet another year the validity of excise duty exemption for the manufacture of specified goods by new units in Kutch district of Gujarat.

According to an official statement, the time limit for setting up new units and starting commercial production now stands extended to December 31, 2005 which would give sufficient time for the completion of ongoing projects.

Following the massive earthquake in Gujarat in January 2001, the Government had then notified an excise duty exemption scheme to attract investment in the Kutch region.

The exemption was available only to new units that were set up and which commenced commercial production on or before December 31, 2003.

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