As the countdown for the expiry of the special industrial package 2003 for Uttarakhand began, nearly 2,400 industrial units, mostly small and medium enterprises (SMEs), are becoming increasingly restive due to a lack of clarity on a host of issues. Most of these industries had set up new units reaping the benefit of the area-based exemptions in the hill state.
Some 150-200 new units are expected to come on stream before March 31 this year, when the special industrial package expires. Will they be able to start production before the deadline? This is the million-dollar issue worrying them. What will happen if they don’t? Will there be any grace period?
The customs and central excise department has already set the alarm bells ringing with a warning that all the industries must file their declarations before the expiry of the deadline, or otherwise they will not be entitled to the benefits.
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