Tilaknagar Industries Ltd has informed BSE that the Government of Maharashtra vide its letter dated D.O. No. HPC-1008/C.R.123/Ind-8 has decided to confer the status of "Mega Project" to the new manufacturing facilities which, inter-alia, includes 50 KLPD molasses based distillation plant and 100KLPD grain based distillation plant alongwith captive power plant under Package Scheme of Incentives (PSI) 2007.
This will enable the Company to enjoy following benefits:
- Subsidy to the extent of 100% of eligible investment with a period of seven year by way of set off /credit for Tax liability under Maharashtra Value Added Tax Act 2002 and Central Sales Tax Act 1956.
- Electricity duty exemption for the period of 7 years
- 100% exemption from payment of stamp duty
The aforesaid benefits shall be subject to the conditions contained in the aforesaid letter of Government of Maharashtra.
At 11:20 Tilaknagar Ind was at 46.20 (6.45% up)
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