Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,814.05-26.4
Stock Analysis, IPO, Mutual Funds, Bonds & More

Key decisions of Assam Industrial and Investment Policy of Assam, 2019

, ET Bureau|
Jul 23, 2019, 06.18 PM IST
0Comments
The Cabinet meeting on Monday has approved the new “Industrial and Investment Policy of Assam, 2019” and the following are the Policy highlights and benefits:-

1) The Policy will come into effect from 1 st September, 2019 for a period of 5 years for new units only, established during this period.

2) 2% Interest subsidy on working Capital for 5 years subject to a ceiling of Rs. 50 lakh per unit.

3) Reimbursement of SGST for a maximum period of 15 years. (ranging from 150% to 250 % of Fixed Capital Investment).

4) Power Subsidy @ Rs.2 per unit for a period of 5 years subject to a maximum of Rs.50 lakh per annum.

5) 50% Generating set subsidy subject to a ceiling of Rs. 20 lakh.

6) 100 % stamp duty exemption subject to a ceiling of Rs. 25 lakh on purchase of land.

7) 75% subsidy on Technology transfer subject to a ceiling of Rs.10 lakh.

8) Financial Assistance to MSME @ 30% of the cost of Public Issue expenses subject to a ceiling of Rs.5 lakh for getting listed in Stock Exchange.

9) Financial assistance for Environmental Compliances @50% of the capital cost subject to a ceiling of Rs.25 lakh.

10) Incentive for private sector Infrastructure developer @30% of the cost of creation of Industrial Infrastructure (excluding value of land) subject to a ceiling of Rs. 3 Cr. The land area should not be below 30 acres.

11) Incentives of Rs.10,000 (Rupees ten thousand) to the units against each local youth employed by the units.

12) Government may provide Special Dispensation to the unit where the investment is above Rs.1000 Cr or generating minimum regular employment of 2000 people.

13) The benefit of tax reimbursement under the policy shall be subject to the condition that the unit after having availed of the benefit shall continue its production or operation at least for the next 5 (five) years not below 75% of the average production for the preceding 5 (five) years. In case the unit violates this condition, it shall be liable to make, the full amount of tax availed of by it during the period of eligibility, as if no tax reimbursement was ever available to it.

Overall cap of all incentives putting together should not be more than 100% of Fixed Capital Investment of the unit. (However, this is excluding the amount of SGST reimbursement).

Also Read

Assam launches friends of distress force

Committee to review conditions in Assam's detention centres

In 15 year rule of Congress in Assam highest number of minority people died: Assam finance minister

Assam Rifles unhappy over ITBP merger plan

Assam and Bangladesh to work together in multiple sectors

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service