Section 1 in Sales Tax New Deferment Scheme For Industries, 1989
1. Operation of the Scheme.
(a)This New Deferment Scheme shall be deemed to have come into operation with effect from 5th March, 1987 and shall remain in force upto 31st March [1995] [Substituted by Notification No. F.4(86)FD/GR.IV/89-55 dated 27.06.1990 Published in Rajasthan Gazette Extraordinary 4-C(ii) dated 27.06.90 page 359.](aa)[ An industrial unit with projected fixed capital investment of Rs. 50 Crores or more shall be deemed covered under clause (a) if it makes atleast 50% of its eligible fixed capital investment by 31st March, 1995 and commence commercial production by 31st March, 1997.] [Inserted by Notification No.F.4(86)FD/GR.IV/89-23 dated 29.06.1992 Published in Rajasthan Gazette Extraordinary 4-C(i) dated 30.6.92 page 129-6.](b)An industrial unit, other than the new industrial unit covered by 1985 Dispensation, being covered by the Sales Tax Deferment Scheme for Industries 1987 (hereinafter referred to as the Old Deferment Scheme) shall have an alternative option to seek the benefits under the New Deferment Scheme.(c)An industrial unit, of which the application under the old Deferment Scheme has been rejected on the ground of limitation only, or is pending before any Screening Committee shall be entitled to opt for the New Deferment Scheme by making a simple application on a plain paper to this effect before the appropriate Screening Committee.(d)An industrial unit, which has already been granted sanction by any Screening Committee under the Old Deferment Scheme or to whom an eligibility certificate under that scheme has already been issued, may also opt for the New Deferment Scheme by making a simple application on a plain paper to the assessing authority concerned and by depositing the tax liability as required to be deposited under the New Deferment Scheme for the part period for which benefits under the Old Deferment Scheme have already been availed of and the period and manner of depositing of such tax liability shall be determined by such assessing authority after obtaining the prior approval of the Commissioner.(e)An industrial unit, if once gets sanctioned the benefits under the New Deferment Scheme by the appropriate Screening Committee, it shall not be allowed to switch over the Old Deferment Scheme.(f)No industrial unit shall be allowed to take the benefits of both the Old Deferment Scheme and the New Deferment Scheme simultaneously.(g)[ If an industrial unit has been allowed the benefit of exemption from tax under the Incentive Scheme, such unit immediately or after completion of one or more accounting year/s, may be permitted by the assessing authority, with the previous approval of the Commissioner, to avail of the proportionate benefit under this scheme and in such case the benefit of exemption from tax already availed of and the benefit of deferment of tax to be allowed under the scheme shall be clubbed together for the purpose of total permissible limit of benefit and all the conditions of this scheme shall mutatis mutandis apply.] [Added by Notification No.F.4(7)FD/GR.IV/92-89 dated 04.03.92 Published in Rajasthan Gazette Extraordinary 4-C(ii) dated 04.03.92 page 467.]
