Punjab govt announces various tax reliefs to businessmen; Film city, exhibition centre announced
Kanwar Inder Singh/ royalpatiala.in
The Punjab Cabinet on Wednesday approved summoning of the 16th Special Session of 15th Punjab Vidhan Sabha on November 8, 2021 to oppose Centre’s notification extending the jurisdiction of BSF from 15 km to 50 km along the international border besides repealing the three black farm laws.
Notably, this decision has been taken in light of the consensus emerged in the All Party Meeting held at Chandigarh on October 25, where it was unanimously decided to convene a special session of Vidhan Sabha in this regard.
This decision was taken during a Cabinet meeting chaired by Chief Minister Charanjit Singh Channi here at Circuit House this morning.
APPROVES PUNJAB ANTI-RED TAPE RULES, 2021 TO PROMOTE EFFECTIVE ADMINISTRATION OF PUBLIC AFFAIRS
In another significant decision, the Cabinet also gave approval to the Punjab Anti Red Tape Rules, 2021 framed by the Governance Reforms and Public Grievances department to carry out the purposes of the Punjab Anti Red Tape Act, 2021, which was notified and came into effect on April 6, 2021.
The Act shall be applicable to all departments and their attached or subordinate offices including all units of local self-government, boards, corporations, public sector enterprises, societies, trusts, commissions or autonomous bodies established or constituted by an Act of the State Legislature or whose expenditure is met from the Consolidated Fund of the State. It shall also ensure that all the aforesaid entities would mandatorily simplify their process to reduce the burden of compliances by at least 50% within a period of six months of the commencement of this Act. Likewise, the Act would also provide for disciplinary as well as financial penalties against erring official for violations committed under this Act.
APPROVES AMENDMENTS IN PUNJAB RIGHT TO BUSINESS ACT, 2020 FOR FAST TRACK COMPLETION OF MSME’s EXPANSION
In a bid to promote ease of doing business in the state, the Cabinet also gave a go ahead to the amendments in Punjab Right to Business Act, 2020 for inclusion of expansion by existing Micro, Small and Medium enterprises (MSMEs) under the purview of the Act. The amendment in the said Act provides an enabling eco-system for self-declaration, exemptions, speedier approvals and inspections for existing MSMEs to expand and operate in the state. All the existing enterprises undertaking expansion shall be eligible to get Certificate of in-principle approval for 7 services covered under the Act, to be issued within 5 working days to existing units in Focal Points and within 20 working days to existing units outside Focal Points.
OKAYS SEVERAL PRO-INVESTOR INITIATIVES/CONCESSIONS TO BOOST TRADE AND INDUSTRY
Allowed faceless assessment of GST and VAT, now the traders and industrialists need not to go to the Taxation offices for this purpose anymore.
Reduced mobile squad earlier comprising of 14 persons to only four in Taxation department.
Abolished Institutional Tax.
The pending cases of VAT for the Financial Year 2014-15, 2015-16 and 2016-17 would be considered only 30% of the total demand. In such cases, 20% would be recovered in first year and the balance 80% in the next year.
One Time Settlement (OTS) Scheme for the defaulters to be introduced in Punjab State Industrial Development Corporation (PSIDC), Punjab Financial Corporation (PFC) and Punjab Agro Industries Corporation (PAIC).
- An amnesty scheme would also be brought for the plot holders of Punjab State Industries Export Corporation (PSIEC).
- Fixed charges on electricity connections for Medium Scale Industries have been slashed to 50%.
- Rs.150 crore to be spent on the up-gradation of the infrastructure in the Industrial Focal Points.
- Decides to relax the condition of reducing the passages to industry from current 6 to 4 karam.
- Requisite land to be acquired for Patti-Makhu rail link and handed over to the Ministry of Railways, GoI before next rail budget.
- Exhibition Centre to come up at Amrtisar.
- Film City to be set up near Chandigarh.
APPROVES ANNUAL ADMINISTRATIVE REPORT OF SCHOOL EDUCATION DEPARTMENT
The Cabinet also approved Annual Administrative Report of the School Education department for the year 2019-20.
October 27,2021
