Excise duty exemption for NE states extended

Shillong, Apr 26 (UNI) To boost industrial development in the North East, the Centre has implemented a new North East Industrial and Investment Promotion Policy (NEIIPP), 2007, from April 1.

Official sources today said the policy is a revised form of North East Industrial Policy (NEIP), 1997, which was formed by the Department of Industrial Policy and Promotion (DIPP) and was valid till March 31 last.

NEIIPP would provide a excise duty exemption scheme for the industrial units located in the region including Sikkim, which also had an industrial policy and an excise duty exemption scheme.

According to a notification issued here by DIPP officials, the exemption would be available for a period of ten years for new units and existing units undertaking substantial expansion, irrespective of their location in the North East or Sikkim.

However, this exemption is not applicable for goods like, pan masala, cigarettes and other tobacco products, plastic carry bags of less than 20 microns and petroleum products.

Besides, the notice further stated that certain amendments in the excise duty exemption schemes would be carried out soon.

UNI