SIMA lauds Government for announcing power-related relief measures

摘要

SIMA welcomed the decision of the Tamilnadu Chief Minister for extending the VAT exemption on furnace oil meant for captive power generation upto 31st May 2013. Mr. S. Dinakaran, Chairman, stated that this would greatly benefit many large scale textile mills having furnace oil captive power plants to mitigate their power crisis. He also thanked the CM for reducing the VAT on diesel gensets from 14.5% to 5% and also reducing the margin money for TIIC loan from 20% to 10%. SIMA Chairman stated that the benefits given for diesel gensets would largely help the Small and Medium textile mills, power loom units, etc., to generate captive power and minimize the losses.