Special provisions relating to deferred payment of tax by industrial units

A. Special provisions relating to deferred payment of tax by industrial units.-

1. (1) Notwithstanding anything contained in any other provisions of this Act, if the Government is of the opinion that with a view to provide incentives to the entrepreneurs setting up a new industrial units in the State for manufacturing goods for sale, it is necessary or expedient in the public interest so to do, it may, under a scheme notified in this behalf, under this Act, and subject to such restrictions and conditions as may be specified in such scheme, provide for deferred payment of tax payable under section 12 by such entrepreneur who is registered as a dealer under this Act.
2. (2) Subject to the provisions of sub-section (1), the entrepreneur referred therein, if eligible for grant of facility of deferred payment of tax under the scheme notified under sub-section (1), may make deferred payment of tax payable on the sale of goods manufactured by him. Explanation.- For the purpose of this sub-section the expression "new industrial units" shall also include "new tourism units" with effect from the 1st day of August, 1993.