TaxTMI 
TaxTMI 
Private Investment in Jammu And Kashmir
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....rivate Investment in Jammu And Kashmir <br>News and Press Release<br>Dated:- 13-3-2020<br><BR>In order to facilitate investments in Union Territory (UT) of Jammu and Kashmir (J&K), the following incentives are offered to attract entrepreneurs by the UT: * Allotment of land at subsidized rate. * Cheaper Power Tariffs. * Subsidy on purchase & installation of DG set. * Subsidy on installation....
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.... of Quality Control/Testing Equipments. Additionally Department for Promotion of Industry & Internal Trade is implementing following Packages for providing incentives to industries in UT of Jammu & Kashmir: * Special Package-I&II (from 14.06.2002 to 14.06.2017) The Scheme provides (i) Central Capital Investment Incentive (30% of the investment in plant & machinery with an upper limit of ₹....
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.... 5 crore), (ii) Central Interest Incentive (3% interest on working capital for 5 years) and (iii) Central Comprehensive Insurance Incentive (Reimbursement of 100% insurance premium for 5 years). * Industrial Development Scheme (IDS) (From 15.06.2017-31.03.2020) The scheme provides (i) Central Capital Investment Incentive (30% of the investment in plant & machinery with an upper limit of ₹....
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.... 5 crore), (ii) Central Interest Incentive (3% interest on working capital for 5 years), (iii) Central Comprehensive Insurance Incentive (Reimbursement of 100% insurance premium for 5 years), (iv) Income Tax Reimbursement of centre's share for 5 years, (v) GST reimbursement of Central Govt. share of CGST & IGST for 5 years, (vi) Employment Incentive under which additional 3.67% of the employer's c....
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....ontribution to EPF in addition to Govt. bearing 8.33% Employee Pension Scheme (EPS) contribution of the employer in PMRPY and (vii) Transport incentive on finished goods movement by Railways(20% cost of the transportation), by Inland Waterways Authority (20% of the cost of transportation) & by air (33% of cost transportation of air freight) from the station/port/airport nearest to unit to the stat....
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....ion/port/airport nearest to the destination point. Also, under this scheme a single unit can avail overall benefits up to ₹ 200 Crore. Besides the above, following steps have also been undertaken by UT of J&K to spur investment: * Ease of Doing Business has been strengthened. * Land Bank for new investments has been identified. * 14 Focus Sectors for investment have been identified a....
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....nd policies in all these sectors have been drafted. The Government of India is fully committed to the overall development and several steps, including preparation of a new Industrial policy, are being taken to boost trade, industry, investment and employment in the Union Territory of Jammu & Kashmir. Further, schemes/projects under Prime Minister's Development Package are under various stages of....
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.... implementation. This package comprises of 63 major development projects in Road, Power, Health, Tourism, Agriculture, Horticulture & Skill Development sectors. Post abolition of Article 370, 160 units have been formally registered in various District Industries Centres with total investment amounting to ₹ 187.28 crore. Further 493 units have also been registered provisionally with an inves....
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....tment of ₹ 836.82 crore. This information was given by the Minister of Commerce and Industry, Shri PiyushGoyal, in a written reply in the Rajya Sabha today.<BR> News - Press release - PIB....