To ensure greater ease to investors, Punjab Government has amended the procedure of submission of online application for refund of incentive of stamp duty under Industrial and Business Development Policy (IBDP), 2017.
The state Industries Minister Sunder Sham Arora on Sunday said that after receiving the Chief Minister Capt Amarinder Singh’s approval to this effect, a notification has been issued.
The pending cases shall be cleared expeditiously now giving relief to the investors, he added.
Arora said that the refund of stamp duty can be claimed after the start of commercial production.
One of the condition for claiming incentive was that land should not have been purchased before or after three years of the application, he added.
Under the amended procedure, the date of submission of Incentive Common Application Form (ICAF) will be considered to check the aforesaid condition of three years, the Minister added.