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Odisha amends ITC Policy-2014, to make it more attractive

Press Trust of India  |  Bhubaneswar 

The government has amended some of the clauses of the state Information and Communication Technology (ICT) Policy - 2014 to make it more attractive, officials said.

The decision in this regard was taken at the cabinet meeting chaired by on Tuesday.

"We have amended two clauses of the ITC Policy 2014," A P Padhi said.

According to the amended decision, industrial units in IT/ITES/ESDM sectors which were receiving or are eligible to receive net VAT reimbursement under ICT Policy 2014, will now be eligible for net SGST reimbursement for balance period out of eligibility period from the date of commencement of production.

Padhi said new industrial units in IT/ITES/ESDM sectors will be eligible for reimbursement of 100 per cent of net SGST paid for a period of five years from the date of starting of commercial production on or after July 1, 2017 limited to 100 per cent of fixed capital investment provided that the SGST reimbursement will be applicable only to the net tax paid, after adjustment of input tax credit against the output tax liability.

Existing industrial units in IT/ITES/ESDM sectors taking up expansion, modernization or diversification will also be eligible for reimbursement of 100 per cent of net SGST paid for a period of five years from the date of commencement of production on or after July 01, 2017 subject to certain conditions, the said.

Padhi said the cabinet has also approved the Revised Special Incentive Package Scheme (RSIP) to attract investments in Electronics Systems Design and Manufacturing (ESDM) sector to

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 27 2019. 14:15 IST
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