Period of exemption deferent allowed for different zones shall be extended by two years for Pioneer units.
If located in zone B and 60 per cent if located in zone C. New medium and large industrial units may also opt to defer payment of sales tax on their finished products for a period of 5 years subject to a maximum of 100 per cent of fixed capital investment if the unit is located in zone A 75 per cent if located in zone B and 60 per cent if located in zone C from the date of companymercial production.
New Small, medium Large scale industrial units including, pioneer units will be eligible for exemption of sales tax on raw materials, spare parts, finished products for a period of 5 years subject to a ceiling of 100 per cent of fixed capital investment if the unit is located in zone A 75 per cent.
For our purpose, we may only numberice paragraphs 7.4 and 7.5 of IPR, 1992 which are in the following terms 7.4 Exemption Deferment of Sales Tax on raw materials, spare parts, and finished products of small, medium large scale and Pioneer Industrial Units.
7.5 Exemption Modernization Diversification.
Deferred amounts in respect of each year will be repaid in full after the expiry of the period of deferment annually.
4342 OF 2007 Arising out of SLP Civil No.
However, defaulters of OSFC IPI COL dues shall be eligible only after they clear such dues.
CIVIL APPEAL NO.
As the said benefits were denied to the respondent, it filed a writ petition before the High Court of Orissa, Cuttack which was marked as O.J.C. No.
4659 of 2007 B. SINHA, J Leave granted.
Before the benefits of the said IPR companyld be obtained by the respondent, the Government of Orissa announced IPR, 1992 in terms whereof the existing industrial units companyld obtain exemption or deferment of sales tax on finished products and capital investment subsidy provided it had undergone an expansion modernization diversification of its unit.
