https://www.taxtmi.com/circulars?id=66665 The Press Note increases industrial licence initial validity to fifteen years with a possible discretionary three year extension, and provides that licences where commercial production has not commenced within the maximum aggregate period shall be treated as automatically lapsed. Extensions are to be processed by the Administrative Ministry/Explosive Section (DPIIT) and may be approved by the Additional Secretary/Joint Secretary without referral to the Licensing Committee, subject to conditions on timing, unchanged licence status, government comments, land tenure, completed construction, and installed plant and machinery; transfers, suspensions or cancellations bar extension. en-us Fri, 21 Jul 2023 00:00:00 +0530 Tue, 25 Jul 2023 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66665 The Press Note increases industrial licence initial validity to fifteen years with a possible discretionary three year extension, and provides that licences where commercial production has not commenced within the maximum aggregate period shall be treated as automatically lapsed. Extensions are to be processed by the Administrative Ministry/Explosive Section (DPIIT) and may be approved by the Additional Secretary/Joint Secretary without referral to the Licensing Committee, subject to conditions on timing, unchanged licence status, government comments, land tenure, completed construction, and installed plant and machinery; transfers, suspensions or cancellations bar extension. Circulars FEMA Fri, 21 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66665