The government has decided to reduce VAT on all components supplied to automobile manufacturing industries from 14.5 to 5 per cent.
The cut-off date for implementing this decision will soon be announced by the Commercial Taxes Department. A green channel will be established in the Finance Department to avoid delay in clearing VAT dues to industries. This was one among several decisions taken by the State Investment Promotion Board (SIPB), at its meeting held here on Friday, presided over by Chief Minister N. Kiran Kumar Reddy and attended by Major Industries Minister J. Geetha Reddy.
As per the other decisions, women’s industrial parks will be established in each district preferably at the district headquarters or a large city in the district, to encourage women entrepreneurs.
A resolution was adopted to offer concessions/incentives to differently-abled entrepreneurs also along the lines of SCs and STs. Sites for setting up women’s industrial parks have already indentified at Naidupet (Nellore district), Kopparthi (Kadapa), Jadcherla (Mahabubnagar).
At a media conference later, Ms. Geetha Reddy said dedicated transmission and distribution network would be ensured soon to provide power to industries, by separating their feeders from domestic connections.
She announced that there would not be any change in the government policy to take back land if they were not used for the purpose after allotment, like in the case of Brahmani Industries Limited.