Amendment status not verified — confirm the current text below against the official source.
item and entry shall be inserted, and shall be deemed to have been inserted, with effect from the 1st day of April, 1993:— "(8) a newly set up industrial unit, save in respect of premises used for residential purposes, for a period of five years from the date of its first commercial production."; (b) in the Explanation, after clause (2), the following clause shall be inserted, and shall be deemed to have been inserted, with effect from the 1st day of April, 1993:— "(3) For the purposes of exemption (8), a sick industrial unit or a closed industrial unit, after being rehabilitated or revived, shall be deemed to be a newly set up industrial unit.".