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of <h1>New Tax Approval Needed for Delayed Industrial Parks; Biannual Reports Required for Continued Benefits</h1> If the commencement of an Industrial Model Town, Industrial Park, or Growth Centre is delayed by more than a year from the application date, new approval is required to receive tax benefits. Tax benefits are available only after the specified number of units are established. The undertaking must continue operations during the benefit period. If an Industrial Park is developed post-April 1, 1999, and transferred, both parties must notify the Secretariat for Industrial Assistance with the transfer agreement. Approved undertakings must submit biannual reports to the Central Government during the benefit period.
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