In exercise of the powers conferred by sub-section (3) of section 8 of the Rajasthan Value Added Tax Act, 2003 (Act No. 4 of 2003), the State Government being of the opinion that it is expedient in the public interest so to do, hereby exempts M/s Balkrishna Industries Ltd. (hereinafter referred to as the 'company') from payment of tax, payable under sub-section (2) of section 4 of the said Act, to the extent of 75% of tax liability, for 7 years, subject to the condition that the company shall exports not less than 75% of the total sales in a particular financial year .