Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: empanelment :: due date for vat payment :: articles on VAT and GST in India :: VAT RATES :: cpt :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: Central Excise rule to resale the machines to a new company :: TDS :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd
VAT (Value Added Tax) »
 Haryana govt exempts solar equipment from VAT
 AP to push for same benefits under GST for VAT exempted goods
 Andhra Pradesh to push for same benefits under GST for VAT exempted goods
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading

Uttarakhand announces 10-yr VAT holiday scheme in industrial corridor
December, 28th 2013

With the Union cabinet all set to approve the Amritsar-Delhi-Kolkata industrial corridor, the Uttarakhand government has decided to offer a complete waiver Value Added Tax (VAT) for 10 years to new industrial units where the capital investment is more than Rs 300 crore in the dedicated area.

“A total of 150 km area of Utarakhand is coming under the industrial corridor. So we have decided to give complete waiver of VAT on all those new industrial units where investment is more than Rs 300 crore for ten years,” Chief Minister Vijay Bahuguna said on Thursday after a meeting of the state cabinet.

This waiver will be applicable up to 50 per cent of the total investment only. This means if a company put up a new plant with an investment of Rs 300 crore, then it will be entitled for a complete waiver in VAT up to Rs 150 crore only, said Additional Chief Secretary Rakesh Sharma.

The corridor which will cover Punjab, Haryana, Uttar Pradesh, Uttarakhand, Bihar, Jharkhand and West Bengal is expected to give a major push to industrialisation and job creation in the region.

Sharma said Uttarakhand is offering this waiver because other states like Punjab have already declared some incentives for the industry at the industrial corridor. Some of the new industrial estates like Sitarganj in Uttarakhand are coming under the industrial corridor where these tax sops will be available.

In case if a company sets up new unit at Sitarganj, it will be entitled for all those other incentives like waiver in stamp duty which are available for the mega projects besides the complete waiver of VAT.

Some of the companies like Ural and D S group which have already signed MoUs with the state government with investments more than Rs 300 crore would also be entitled for such incentives since they are yet to establish the industrial units, he added.

The companies will also have the benefit of various other state-of-the-art infrastructure facilities like logistic hubs in Uttarakhand.

With mushrooming growth of industry in Uttarakhand, the state government is setting up two logistic hubs at Pantnagar and Haridwar and shift freight traffic from road to the rail network, a move that would help industrialists to save time and money.

The government-owned State Infrastructure and Industrial Development Corporation of Uttarakhand Limited has formed a joint venture with Container Corporation of India Ltd, a public sector undertaking, to develop the two logistic hubs.

An investment of Rs 150 crore is proposed in the Pantnagar logistic hub which will be built in the first phase. In the second phase, the logistic hub at Haridwar will be built where investment would be much less due to availability of rail network there. The government is also planning to set up third logistic hub at Sitarganj also.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions