The Haryana government has announced a series of concessions for trade and industry. Concessions included, reduction in the local area development tax to 2 per cent from 4 per cent, lowering of tax on industrial fuels to 4 per cent from 10 per cent and a lumpsum tax option for the plywood industry and sweetmakers.
The government had also decided to comply with the floor rates in case of diesel, said a spokesman of the excise and taxation department, here yesterday.
While the local area development tax will remains the same for crude oil, it has been increased to 8 per cent for petrol, high-speed diesel, super light diesel and light diesel.
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Infotech units, companies manufacturing farm implements, units enjoying sales tax exemption and tax deferment, works contractors, brick kiln owners and textile units will have to pay tax on petrol, high-speed diesel, super light diesel and light diesel.
Industrial units have been allowed to purchase petroleum-based fuels except petrol, high-speed diesel, super light diesel and light diesel on payment of a 4 per cent local area development tax.
Automobiles and two- wheeler companies will now purchase petrol on payment of a 12 per cent tax for use in manufacturing.
Units set up under the export-oriented unit scheme, the export processing zone scheme, the electronic hardware technology park scheme and the software technology park scheme can purchase petrol, high-speed diesel, super light diesel and light diesel on payment of a 2 per cent tax for use in manufacturing of goods.
The tax so paid will be refunded in case of export sales. This refund will al