Cabinet amends Bihar Industrial Investment Promotion Policy, 2016

Patna,(BiharTimes):  The Nitish Kumar cabinet on Tuesday amended the Bihar Industrial Investment Promotion Policy, 2016, to provide 100 per cent compensation on State Goods and Services Tax (SGST) for five years to new units in leather, textile, apparel, electronics hardware, Information Technology and IT enabled services.

The new units in these sectors must invest more than Rs five crore and employ at least 50 persons in core activities. The SGST holiday will start from the date commercial production begins.

According to Industries Department principal secretary S. Siddharth the new units will also be given 50 per cent and 100 per cent compensation on Employees' State Insurance and Employees Provident Fund of male and female workers respectively for five years if they are Bihar domiciles.

He said the cap on the maximum compensation per month will be Rs 500 for male employees and Rs 1,000 for SC, ST and women employees. The state government would also give a grant of Rs 20,000 or the rate fixed by Bihar Skill Development Mission, whichever is less, for every trained worker who is a domicile of the state




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