The New Industrial & Investment Promotion Policy, 2012 of Meghalaya is designed to facilitate investments in new sectors across the State and thus ensure accelerated and sustained growth. The Policy focuses to attract, facilitate and promote wider expectations and high end investment. Investment through such policy will have to ensure that the benefit percolates down to all sections of society through its inclusive and sustained growth projections.
Validity Period: For a period of 10 years commencing from the date of notification.
- To promote investment in all sectors.
- Generate employment opportunities for the local people in the industries and allied sectors.
- To provide special incentives for promoting local Entrepreneurs in setting up of micro, small & medium manufacturing and service enterprises.
- Encourage setting up of export-oriented Agro & Horticulture processing unit.
- Develop human resources and bring about improvements in the quality of life by promoting industries in sectors where the state has comparative advantage.
- Achieve a balanced and growth oriented development covering the entire state through promotion of village and small scale industries.
- All MSME units which employ local tribal (Khasi/Garo/Jaintia/any other ST recognized by the Government of Meghalaya) people not less than 60 % of the total employee strength of the enterprises.
- New units whose date of commercial production is on or after the date of notification.
- Existing units undertaking 1st expansion/1st modernization or 1st diversification (Minimum of 25 % on the original investment in Plant & Machinery/Equipments) at the same location in Meghalaya will be eligible for incentives under the MIIPP Scheme, 2012 provided that :
|S. N.||Incentives||Micro & Small Enterprises||Medium, Large Mega and Ultra Mega Enterprises|
|1.||State Capital Investment Subsidy||At the rate of 35 % of the fixed capital subject to a ceiling of Rs 7.00 lakhs. (for Micro Units)
30 % of the fixed capital subject to a ceiling of Rs 75.00 lakhs for (Small Units)
|At the rate of 30 % of the fixed capital subject to a ceiling of Rs. 100.00 lakhs.|
|2.||Interest Subsidy for setting up enterprises
|At the rate of 4% with a ceiling of Rs.1 lakh per annum on term loans for a period of 5 (five) years.||At the rate of 4% with a ceiling of Rs.30000.00 per month on term loans for a period of 3 years.|
|3.||Reimbursement of Stamps Duty & Registration Fees||75% of the Stamp Duty & Registration Fees subject to a maximum of Rs.3.00 lakhs.||75% of the Stamp Duty & Registration Fees subject to a maximum of Rs.3.00 lakhs.|
|4.||Subsidy on cost incurred on Quality Control Measures:||50% reimbursement of the cost subject to a maximum of Rs. 5.00 lakhs.||50% reimbursement of the cost subject to a maximum of Rs. 20.00 lakhs.|
|5.||Sales Tax/VAT Remission||99% Sales Tax (MVAT) remission for a period of 7 years.||99% Sales Tax (MVAT) remission for a period of 7 years.|
|6.||Refund of Central Sales Tax (CST)||100% CST reimbursement on purchases of machinery and equipments subject to a ceiling of Rs. 25.00 lakhs.||100% CST reimbursement on purchases of machinery and equipments subject to a ceiling of Rs. 100.00 lakhs.|
- Enterprises owned by Women & Physically Challenged persons :
- Additional 10 % on the State Capital Investment Subsidy subject to a ceiling of Rs.5.00 lakhs.
- Physically challenged persons will pay only 50 % of the applicable lease rent if allotted land/ shed/shop in Industrial Area/Industrial Estate/Growth Centre.
- Enterprises set up by Tribal entrepreneur will get preference in allotment of land/shed in the industrial area/estate with concession of 25 percent of the prevailing rate in lease rent.
- Subsidy on Power Tariff will be provided at the rates of 30% for loads up to 2 MW for a period of 5 years from the date of commercial production for the manufacturing process only subject to a ceiling of Rs. 25.00 lakhs per annum.
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