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NUll

15th

2016

Tax relief for first 36 start-ups in Chhattisgarh: -


The Chhattisgarh Govt. has offered a major tax relief to the first 36 start-ups in the state. These units would get all state taxes reimbursed for three years under the Start-up Chhattisgarh campaign which Chief Minister Raman Singh formally launched on September 13. The tax relief would be a major incentive to attract investment in the state. The number was probably taken out from the state’s name, which denotes 36 fort (Chhattisgarh in Hindi). Under a slew of sops incorporated in the policy, start-ups would get a subsidy of 75 per cent on term loans up to Rs 70 lakh for six years, fixed capital subsidy of 35-40 per cent up to Rs 3.5 crore, electricity duty exemption for 10 years, stamp duty exemption for land purchase or lease, besides assistance in preparing project report, quality certifications, technical patent costs. The micro, small and medium enterprises (MSME) start-ups shall be eligible for 60 per cent subsidy on land premium in state-run industrial parks. The units



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