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Aug 29, 2014
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VAT refund prompts automakers to make fresh investments in Maharashtra
The timing of the announcement is intriguing. With Assembly elections barely a couple of months away, the Maharashtra Government has announced investments of Rs. 11,500 crore from four automakers.Tata Motors, Mahindra & Mahindra and Volkswagen will expand their plants in the Chakan area near Pune, while Bajaj Auto will spend Rs. 2,000 crore at its Aurangabad facility, home to its RE60 quadricycle, scheduled to roll out in October.The companies agreed to invest in the State after a dispute over the refund of value-added (VAT) tax was resolved.
Source -
http://www.thehindubusinessline.com
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