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Northeast Industrial and Investment Policy

Northeast Industrial and Investment Policy

With a view to give a further boost to industrialization in the North Eastern Region, the erstwhile North East Industrial Policy (NEIP), 1997 was revised and a new policy, namely North East Industrial & Investment Promotion Policy (NEIIPP) 2007, was notified w.e.f. 1.4.2007 which will remain in force upto 31.03.2017. Benefits under NEIIPP, 2007 have also been extended, for the first time, to select Service Sector units, Bio-technology units and Power Generating units (up to 10 MW), besides industries in the manufacturing Sector.

NEIIPP, 2007 covers the entire North East Region comprising States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim. NEIIPP, 2007 is applicable to all  industrial  units in manufacturing Sectors, select service sector, Biotechnology and Power Generating units (up to 10 MW) (barring the units producing tobacco and manufactured tobacco substitutes, pan masala and plastic carry bags of less than 20 microns, refineries, Calcined Petroleum Coke & Bitumen Emulsion and units engaged in peripheral activities like preservation during storage, cleaning operations, packing, re- packing, labeling or re-labeling, sorting, alteration of retail sale price etc.).
 The government has revised the North East Industrial and Investment Promotion Policy (NEIIP), 2007, stipulating that all the subsidies to industrial units will be disbursed through the DBT mechanism.Government has decided that henceforth subsidies payable to all industrial units will be disbursed through Direct Benefit Transfer (DBT) mechanism by the Chief Controller of Accounts (Industry) for which the units would need to get themselves registered on the e-payment portal by providing required bank details," the DIPP said in an office memorandum.

It also said that all industrial units which commence production on or after 1, December 2014 and on or before 31, March 2017 as well as existing units which go in for substantial expansion and commence commercial production on or before March next year will be eligible for incentives as per the revised norms of subsidy. 

The subsidy for the new industrial units/existing industrial units going for substantial expansion will be limited to Rs 5 crore per industrial unit operating in manufacturing sector and Rs 3 crore per industrial unit operating in services sector, the DIPP said in an office memorandum..

The NEIIP 2007 was for 10 years i.e upto 2017 but to a surprise Industries in the north eastern and Himalayan states will continue to get tax exemption till March 2027, which was rolled out on July 1 2017.The support shall be available for the residual period (ten years from the date of the commercial production) in the States of North Eastern region and Himalayan States, he said. DIPP will notify the scheme, including detailed operational guidelines for its implementation within 6 weeks, he added. Under the new GST regime, there is no provision for exemption but there is one section under the Act which permits refunds.Therefore, refund would be permitted through DBT. The sunset clause of these exemption has been extended to 2027.

For full details click here

REPORT ON EXTENSION 

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