Jindal given "special" sops by Karnataka Govt

BANGALORE, Sept 26: “As a special case” the Jindal Vijayanagar Steel Limited, which has set up a 1.25 lakh metric tonne integrated steel plant at Toranagal in Bellary district, has been exempted from payment of all kinds of taxes for 14 years on all raw materials, inputs, consumables, components and capital goods.

According to Karnataka Major and Medium Industries Minister H Shivappa, the Cabinet gave its approval to extend concessions in entry, sales, purchase taxes and all other taxes for 14 years from the date of commercial production as sought for by the company.

Shivappa stated that originally, the Government had extended 100% exemption in Karnataka Sales tax and even the Centre had exempted from payment of Central Sales Tax for 14 years. JVSL had represented to the Government about the glut in the international market and had sought various tax exemptions.