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Tripura govt launches new industrial investment promotion scheme

The Department of Industries & Commerce, Government of Tripura provides various fiscal subsidy/incentives to the industrial units to promote setting up of industrial and business ventures. The new State Incentive Scheme namely, “Tripura Industrial Investment Promotion Incentive Scheme (TIIPIS). 2022 will be for next 5 years with effect from 1 April, 2022 to 31 March, 2027. The Scheme-2022 shall be applicable to the eligible industrial units which commence their commercial production in the State on or after the 1 April, 2022, but before or on 31 March, 2027, in the private sector, cooperative sector, self-help-groups, joint sector and also companies owned or managed by the State Government.

To boost the industrial development of the state we have launched a “Tripura Industrial Investment Promotion Incentive Scheme (TIIPIS), 2022” for the next 5 years.

Under this scheme, various subsidies will be provided to companies, & SHGs for setting up industries in the state.

Following are the details of various incentives approved under TIIPIS – 2022

Capital Investment Subsidy for MSME on fixed capital investment, maximum limit of subsidy is Rs.100 Lakhs for Non-thrust sector and Rs.125.00 Lakhs for Thrust sector enterprises: [Enhanced from Rs.60 Lakhs and Rs.70 Lakhs).

Capital Investment Subsidy for Large scale enterprises on the investment made in land and building is Rs.200 Lakhs per enterprise (New provision).

Capital Investment Subsidy may also be provided to Private Sector infrastructure Developer for creation of industrial infrastructure where the land area is not below 30 acres, 30% of capital investment subject to an upper ceiling of Rs.500 Lakhs. (New provision).

Partial Reimbursement of Power Charges:

The industrial units with connected load up to 20 HP shall be provided partial reimbursement of power charges @25% of power charges actually paid by the enterprise.

State Transport Subsidy:

State Transport Subsidy shall be provided @50% of transportation cost incurred for movement of secondary raw materials from outside the state in place of the existing @10% Transport subsidy for transportation of finished goods. (New provision).

To encourage the entrepreneurs to set up their industrial units based on the local raw materials like Rubber, Bamboo, Agri & Horticultural produce, Gas, Tea, Agar Oil extraction, Rubber Wood processing etc. and some demand based service manufacturing sector activities related to Tourism promoting activities like, Water-Sports, Ropeway’s, Floating Restaurants, and Hospital/ Nursing Home, processing of plastic waste/e-waste, Municipal Waste are declared as “Thrust Sector” industries and will be provided enhanced rate and amount of subsidy under this Scheme.

Gist of major subsidy/ incentives of the new Scheme-2022 is as follows.

  1. Capital Investment Subsidy (@30% for non-thrust and @40 % for

Thrust sector):

1) Capital Investment Subsidy for MSME on fixed capital investment. maximum limit of subsidy is Rs.100 Lakhs for Non-thrust sector and Rs.125.00 Lakhs for Thrust sector enterprises, (Enhanced from.

Rs.60 Lakhs and Rs.70 Lakhs). ii) Capital Investment Subsidy for Large scale enterprises on the investment made in land and building is Rs.200 Lakhs per enterprise

(New provision).

iii) Capital Investment Subsidy may also be provided to Private Sector Infrastructure Developer for creation of industrial infrastructure like Industrial Park/ Estates/ Logistic Hub, where the land area is not below 30 acres, @30% of capital investment (excluding land value) subject to an upper ceiling of Rs.500 Lakhs. (New provision).

iv) Capital Investment Subsidy shall also be provided to the existing units for one time substantial expansion of capacity/ modernization/ diversification during the scheme period within the overall ceiling of

Capital Investment Subsidy. (New provision)..

Industrial Promotion Subsidy (100% Reimbursement of SGST): The subsidy shall be equal to the amount of Goods and Services Tax (net of input tax) paid to the State Government with a upper limit of Rs.80 Lakhs and Rs.125 Lakhs for non-thrust sector and Thrust sector respectively, subject to 150% of the investment made in plant & machinery. ( Enhanced from Rs.60 Lakhs and Rs.100 Lakhs).

Partial Reimbursement of Power Charges: i) Power charges will be provided to all eligible industrial units with connected load of above 20HP @ Rs.5.00 per unit without any upper ceiling. (New provision).

ii) The industrial units with connected load up to 20 HP shall be provided partial reimbursement of power charges @25% of power charges actually paid by the enterprise, subject to a maximum amount of Rs. 15.00 Lakhs for non-thrust sector and Rs.25 Lakhs per annum per enterprise for Thrust Sector Industries. (Enhanced from Rs.12 Lakhs and Rs.20 Lakhs).

Partial Reimbursement of Interest on Term Loans @4% for Non thrust and @5% for Thrust sector with a upper ceiling of Rs.5 Lakhs and Rs.12 Lakhs for Non-thrust and Thrust sector enterprises (Enhanced from Rs.3 Lakhs and Rs.10 Lakhs).

State Transport Subsidy: State Transport Subsidy shall be provided @50% of transportation cost incurred for movement of secondary raw materials from outside the state in place of the existing @10% Transport subsidy for transportation of finished goods. (New provision).

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