CHHATTISGARH INDUSTRIAL DEVELOPMENT POLICY 2024–30
Dear-Businessman/Investors,
In Series of KIP: Business and Subsidy Update, today we are going to share with you an informative series i.e., “Stamp Duty, Electricity duty, and Mandi fee Subsidy” under CHHATTISGARH INDUSTRIAL DEVELOPMENT POLICY 2024–30
Objective:
The objectives of the Industrial Development Policy 2024–30 focuses on fostering comprehensive growth across sectors in various development blocks of Chhattisgarh, aligning with the vision of “Amrit Kaal: Chhattisgarh Vision @ 2047.” The policy aims to create an investor-friendly environment, streamline administrative processes, and encourage the development of industries based on local resources and advanced technologies. Additionally, it seeks to leverage the state’s geographic advantages and natural resources to establish Chhattisgarh as a hub of industrial and economic progress.
Quantum of Assistance:
The CHHATTISGARH INDUSTRIAL DEVELOPMENT POLICY 2024–30 provides Stamp Duty, Electricity duty, and Mandi fee Subsidy to support new and expanding enterprises. The quantum is assistance is as under:
- Electricty Duty: 100% electricity duty exemption for new MSME enterprises from the date of commercial production. 5 years for Group 1, 6 years for Group 2, 9 years for Group 3.
- Stamp Duty: 100% stamp duty exemption on purchase/lease deeds for land, sheds, buildings (excluding mining lease land), and on loan-related deeds for up to 3 years from loan sanction date; plus 50% exemption on land diversion fee for industrial use (micro and small enterprises only), applicable up to 15 acres.
- Mandi Tax Exemption: 100% mandi tax exemption for 5 years for MSMEs in agriculture, food processing, and biofuel/ethanol sectors, capped at ₹5 crore per year and limited to 75% of the unit’s fixed capital investment.
Eligible Entities:
Under this scheme incentives can avail by an entity/organisation such as Proprietary, Partnership, Pvt. Ltd. Company, Public Ltd., LLP (Limited Liability Partnership) and Co-operative society etc.
Fixed Capital Investment:
“Fixed Capital Investment” refers to the investments made for the establishment of a new enterprise, expansion/modernization/ substitution of existing enterprises (where applicable), including investment in land/land development, shed-building construction, installation of new plants and machinery, electricity supply, water supply, and boundary wall construction.
Commencement and Applicability:
The Industrial Development Policy 2024–30 will be effective from 1 November 2024 till 31 March 2030.
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