Utilization of the proceeds of the levy under this Act

(1) The proceeds of the levy under this Act shall be appropriated to the Fund and shall be utilized exclusively for the development or facilitating the trade, commerce and industry in the State of Uttarakhand which shall include the following:- (a) construction, development and maintenance of roads and bridges for linking the market and industrial areas; (b) providing finance, aids, grants and subsidies to financial, industrial and commercial units; (c) creating infrastructure for supply of electricity and water to industries, marketing and other commercial complexes; (d) creation, development and maintenance of other infra- structure for the furtherance of trade, commerce and industry in general; (e) providing finance, aids, grants and subsidies fix creating, developing and maintaining pollution free environment in the concerned areas; (f) any other purpose connected with the development of trade, commerce and industry or. for facilities relating thereto which the State Government may specify by notification; (g) providing finance, aids, grants and subsidies to local bodies and government agencies for the purposes specified in clauses (a), (c), (d), (e) and (f); (2) The entry tax levied and collected under this Act shall be credited to the Uttarakhand Trade Development Fund and shall exclusively be used for facilitating trade, commerce and industry. The amount realized as entry tax shall not be used for the purposes other than those specified in sub-section (1): Provided that the tax so levied from any local area shall be utilized to provide facility in the same local area. (3) The State Government shall, by notification, specify the manner of deposit of tax under appropriate Heads of Accounts and the manner in which the proceeds of the levy shall be utilized exclusively for the development of trade and commerce in the State of Uttarakhand.