Section 4A(2) in Punjab General Sales Tax (Deferment and Exemption) Rules, 1991
(2)[ A unit which qualifies for the various incentives both under the Industrial Policy of 1989 or the Industrial Policy of 1992, as notified by the Department of Industries and has exercised its option to be covered under either of the aforesaid two policies by the first day of April, 1993, would be governed by the Policy for which it has exercised its option:Provided that no such option shall be available if a unit has already availed of any of the incentives, partially or fully, under the Industrial Policy of 1989] [Sub-rule (2) of rule 4A substituted by GSR. 57/P.A.46/48/Ss. 27, 10A and 30A/Amd(3)/93 dated 11.8.1993. Before substitution it provided '(2) the units which qualify for the various incentives both under the Industrial Policy of 1989 or the Industrial Policy of 1992 shall have the right to exercise option to be covered under either of the aforesaid policies within a period of three months from the date of publication of the notification pertaining to the Industrial Policy of 1992. No such option shall be allowed to a unit which has already availed of any of the incentives under the Industrial Policy of 1989'.].
