Hyderabad: The implementation of the new policy regarding “online single window approval system”, ensuring all the approvals within three weeks will put on hold. The investors who came forward to set up mega projects in TS without submitting the application about the package related to income tax, excise and custom duty.
CM KCR who was expected to the approval system this week for the submission of application online, which had earlier expressed the interest towards the government. Reliance ADAG group, had promised about the healthcare and cement units in Telangana. They also promised to set up all manufacturing things in the food processing.
In fact, most of the concession promised by the TS government in its policy are linked to the policies that they can be extended during the centre approves them. To the utter disappointment of industrialists there were no tax incentives.
And for the new plant and machinery in any of the five years for which additional concession would be notified.
“Even these minor concessions granted by the centre would available for investors as they want to set up the units in and around the city. The government has decided to take up the issue of the centre. And the CM and the industries minister will soon pursue”, said by senior officials of industries department.
Next phase will come out with tax incentives conferring to the reorganisation act 2014.When investors are not keen on submitting applications till the centre gives clarity over it