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FMCG firms to be hit if hill state tax benefits withdrawn
The latest GST move is why the tax holiday notifications are being sought to be ended by March 2010. The Union finance ministry is mooting withdrawal of the tax benefits it has been giving to manufacturing units in Himachal Pradesh and Uttarakhand. The move is likely to affect the bottom-line of, and discourage investments from, fast moving consumer goods (FMCG) and consumer durables companies that