Uttar Pradesh govt gives exemption under VAT in SEZs

The Uttar Pradesh government has decided to give exemption under the Value Added Tax (VAT) to the developers, sub-developers and industrial units in the Special Economic Zones (SEZs) from January 1, 2008 that they used to get earlier under the trade tax structure.

The Cabinet presided over by Chief Minister Mayawati here yesterday decided to give his exemption on the certificate of the commissioner, trade tax, an official release issued here said.

The government has also decided to continue exemptions on diesel and furnace oil used as fuel in the 100 per cent export oriented units in the SEZs, the release said.

In another important decision the Cabinet decided to amend the hi-tech integrated township policy to encourage private investment in the housing sector.

The Cabinet noted that there was an urgent need to encourage vertical development in place of horizontal development in the housing schemes in view of the rise in population the release added.

Source : Zee News - Noida, Uttar Pradesh, India, dated 26/06/2008