Punjab News/ Punjab Cabinet exempt cotton seed and cotton from levy of ID Cess
Author(s): City Air NewsChandigarh, November 30, 2013: In a major relief to the textile industry, the Cabinet decided to exempt cotton seed (banaula) and cotton (ginned & unginned) from levy of Infrastructure Development (ID) Cess. This...
cityairnews
Nov 30, 2013 12:30
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Chandigarh, November 30, 2013: In a major relief to the textile industry, the Cabinet decided to exempt cotton seed (banaula) and cotton (ginned & unginned) from levy of Infrastructure Development (ID) Cess. This decision was expected to give substantial boost to the textile sector besides incurring a net loss of Rs.35 crore annually to the state exchequer.
In order to bring down the rates of sand and gravel (bajri) in the market, the Cabinet decided to reduce the rate of Environment Management Fund from 15% to 10% and simultaneously slashed the rates of royalty on sand/bajri from Rs.60 per tonne to Rs.30 per tonne.
A decision to this effect was taken here at a meeting of the Cabinet chaired by Punjab Chief Minister Parkash Singh Badal this afternoon.
