Meeting of District level committee for approval of fiscal incentives held
A meeting of District level committee for approval of fiscal incentives was held under the Chairmanship of Deputy Commissioner Sakshi Sawhney to consider cases for giving benefits like Electricity Duty, Net SGST Incentive and CLU/EDC Exemption for setting up their Industrial units.
City Air News
Jun 18, 2024 03:36
0
Ludhiana, June 18, 2024: A meeting of District level committee for approval of fiscal incentives was held under the Chairmanship of Deputy Commissioner Sakshi Sawhney to consider cases for giving benefits like Electricity Duty, Net SGST Incentive and CLU/EDC Exemption for setting up their Industrial units.
While giving details, Deputy Commissioner Ludhiana Sakshi Sawhney informed that one of the major achievements of this policy was the simplified approval procedure of incentives for MSME’s. All the new and expansion/modernisation projects can apply on Business First Portal and get all regulatory Clearances and Fiscal incentives online in a time-bound manner. The projects up to Rs. 10 crores investments in plant and machinery of IBDP 2017 policy and Projects upto 25 Cr. under IBDP-2022 policy are approved at District Level Committee which is headed by DeputyCommissioners of the districts.
Giving details Rakesh Kumar Kansal GMDIC Ludhiana informed that in today's meeting 1 Electricity Duty & 3 CLU/EDC Charges Exemption and 12 Net SGST Reimbursement incentive applications has been approved by the Committee.
Upkar Singh Ahuja, President CICU, was present as representative from the Industry along with all other officials from various Departments as designated members of District Level Committee.
Deputy Commissioner Sakshi Sawhney informed that this will surely boost the morale of the Industry and more and more industries will come forward to get the benefits of this scheme. The policy has multiple benefits as beside huge fiscal benefits the monitoring of applications are done by the highest authorities of the departments for the various clearances to be given on time.
