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State announces that it will soon amend existing
Industrial policy resolution for redefining mega
projects and attracting investments there.
1)Bauxite and Iron ore based projects with an
investment of Rs 300 crores will be treated as mega
projects.
2)Similarly other mineral based projects of Rs 100
crores or more will be considered as mega projects.
3)Non mineral based projects with an investment of
more than Rs 25 crores will be given the same status.
4)Gemstone processing,jewellery,handloom,handicraft
and biotech units of Rs 10 crore or more will also
qualify as mega projects.
INCENTIVES FOR MEGA PROJECTS
1.Half of the sales tax paid by these projects will
be returned from second year onwards till 10 years.
2)The ceiling of the incentives will be 100 percent
of the capital invest ment made in the project
3)Exemption of entry tax on import of raw materials
4)Central Sales Tax of maximum 2 per cent will be
imposed on finished products for 15 years
5)Factory Act will not be enforceable in handloom and
handicraft units.
6)Vegetable oil refinery and spices manufacturing
units will now qualify for getting incentives as per
Industrial Policy Resolution(IPR)
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