PUDUCHERRY: The Central Excise and Customs will take a lead in establishing single-window clearances with 14 agencies for export clearances, as part of an effort to facilitate industrial growth through exports, said U Niranjan, Central Excise and Service Tax Commissionerate, Puducherry.
Addressing a programme on industrial development organised by the Confederation of Indian Industries (CII)-Puducherry on Thursday, Niranjan said the drop in tax revenue by 27 per cent in five months from April to August, plummeting from `240 crore last year to `156 crore in the current year in the same period shows the slump in industrial growth.
A proper industrial climate was necessary or fresh investments would not come, he said adding that there was a need to root out red tapism and work towards liberationisation of tax laws.
Further efforts to reduce tax litigations are also being taken.