Investment subsidy for various industries

By Our Staff Reporter

BANGALORE, JUNE 28. The Large and Medium Industries Minister, Mr. R.V. Deshpande, on Thursday said that a district-level single window agency, headed by deputy commissioners, would examine proposals in all sectors, including industry, tourism, IT, BT, agro food processing and infrastructure, envisaging investments of up to Rs. 3 crores.

He also announced investment subsidy for various categories of industries.

Under B category, tiny industries in developing areas will be given 10 per cent of the value of fixed assets, subject to a maximum of Rs. 5 lakhs.

Under C category in backward areas, tiny industries will be given 20 per cent of the value of fixed assets, subject to a maximum of Rs.10 lakhs.

Under D category, tiny and SSIs in growth centres at Raichur, Dharwad, Hassan, mini growth centres at Bijapur, Bellary, Malur, Kolar, Nippani, Gadag, Chikkaballapur and Chitradurga, and sector-specific specialised parks, namely agro food industries parks, export promotion industrial parks at Mangalore, auto parks in Dharwad and Shimoga, chemical industrial park, and jewellery park in Uttara Kannada, will get an investment subsidy of 25 per cent of the value of fixed assets, subject to a maximum of Rs. 12.5 lakhs.

In the three zones of B, C and D, entry tax will be exempted for three, five and eight years, respectively.

Some of the exemptions and concessions are: Tiny and SSIs and medium and largescale industries will be exempted from stamp duty in B, C and D zones, while concessions will be given on registration charges for loan documents, registration of land and sheds.

Exemption from payment of sales tax and entry tax on raw material, components, packing material, excluding petroleum products, for 100 per cent export-oriented industries; refund of sales tax and entry tax on raw material, components, packing material, excluding petroleum products, to units other than 100 per cent export-oriented industries with an export of minimum 25 per cent of total turnover.

Existing industrial units attaining the above level will also be eligible for refund of sales tax and entry tax, and exemption from power cut. Tiny and SSI units set up on land up to two acres will get waiver of conversion fee.

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Section  : Southern States
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