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India By State - Nagaland- Taxation & Legalities




Taxation & Legalities

 

Policies & Incentives

North East Industrial Investment Promotion Policy (NEIIPP), 2007

The North East Industrial and Investment Promotion Policy (NEIIPP), 2007, was implemented to promote the North East as an attractive investment destination through concessions and incentives.

The policy offers many incentives for potential investors:

  • Industries under this policy are eligible for incentives for a period of 10 years from the date of commencement of production
  • All new units as well as existing units that undergo substantial expansion ( a minimum of 25 per cent increase in fixed capital) and start production before 2017 would qualify for state incentives.
  • Along with the NEIPP the North East Industrial Development Finance Corporation (NeDFI) will act as the nodal agency for disbursal of subsidies.
  • 100 per cent excise duty exemption on finished products made in the North East.
  • 100 per cent income tax exemption for industrial units.
  • Capital investment subsidy increased from 15 to 30 percent for plant and machinery up to US$ 360 000 per unit. For units above US$ 360 000 and up to US$7.5 million, an empowered committee approves. For units above US$ 7.5 million, the union cabinet approves.
  • Interest subsidy to be given at the rate of 3 per cent on working capital
  • 100 per cent reimbursement of insurance premium.

New Industrial Policy, 2000

The industrial policy was introduced to engineer growth in the state by rapid industrialization. Initiatives such as rehabilitation of sick units and the department of industries acting as a single window agency for all clearances are the key points of the policy.

The incentives on offer are:

  • All new industrial units and existing units undertaking expansion/modernisation or diversification are eligible.
  • Special preference would be given to units in identified growth areas, Export Promotion Industrial Parks (EPIP), industrial estates and other such locations.
  • Subsidies are available -on land, factory rent, manpower development, interest, power, power-line, power generation set, and transport of plant and machinery -depending on the size and location of the industrial unit.
  • State capital Investment subsidy is provided based on size, type and location of plant.
  • State sales tax shall be exemption would be given for a period of seven years from the date of commencement of production. For units in thrust areas exemption would apply for a period of 10 years.
  • Industrial units can avail the cost of getting ISO/BIS certification as per the applicable limits.
  • For 100 per cent export oriented units, and additional five per cent capital subsidy would be provided; for all other export oriented units two per cent additional capital subsidy would be given.

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Nagaland Bamboo policy, 2004

The bamboo policy was introduced to promote bamboo cultivation and bamboo based industries in Nagaland.

Key initiatives include:

  • Bamboo to be developed as a resource by scientific analysis of agro-climatic conditions, topography, breed of plant, and other aiding conditions.
  • Natural bamboo forests to be developed by proper planting and maintenance of forest tracts.
  • Community and private participation to be motivated and nurtured to develop bamboo plantations as 89 per cent of the total geographic area is under private or community ownership.
  • Infrastructure required for extraction of bamboo to be set up by the state in tie-ups with various national and international support programmes.
  • Bamboo to be developed as an enterprise by promoting bamboo-based industries in food products, medicinal and chemical products, handicraft and art products and value added products like tiles, flooring etc.
  • Provide training facility to entrepreneurs and investors in technology and management.
  • Capacity building and awareness creation regarding bamboo and its industrial usage in schools, colleges and technical institutions to be undertaken by the state.
  • Nagaland Bamboo Resource Centre has been set up in Dimapuras a centre for excellence in bamboo technology and management.

IT Policy of Nagaland, 2004

The state government of Nagaland is attempting to develop Nagaland as a preferred IT destination by creating an enabling environment.

  • All tax and other incentives will be provided to IT industries as prescribed in the New Industrial Policy, 2000.
  • State-wide network with a control centre connecting all districts with electronic and video communications to be set up.
  • Computer training to be imparted in school, vocational schools, and colleges.
  • IT task force to be set up in each government department, which would continuously monitor and develop the infrastructure.
  • Five-year plans to be developed to computerise the government departments.
  • Geographic information system (GIS) to be implemented for development and management of state infrastructure.

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Doing Business in Nagaland

List of approvals and clearances required

Department

Incorporation of company Registrar of companies
Registration, IndustrialEntrepreneurs Memorandum, industrial licences Industries & Commerce Department
Permission for land use Industries & Commerce Department
Allotment of land Nagaland Industrial Development Corporation Limited
Site environmental approval Nagaland Pollution Control Board
No objection certificate and consent under Water and Pollution Control Act Nagaland Pollution Control Board
Registration under States Sales Tax Act and Central and State Excise Act Excise department
Commercial taxes Excise department
Sanction of power Department of Power
Power feasibility Department of Power
Power connection Department of Power
Approval for construction activity and building plan Public Works Department
Water and sewerage clearance Public Health and Engineering Department

Cost parameter

Cost estimate

Source

Cost of land (per acre) US$ 50,000 to US$ 75,000 per acre in Kohima and Dimapur. Property dealers
Hotel costs (room per night) US$ 10 to US$ 35 State tourism website
Cost of office space (2,000 sq ft) US$ 75 to US$ 200 per month Property dealers
Cost of residential space (2,000 sq ft house) US$ 60 to US$100 per month Property dealers
Labour cost (minimum wages) Unskilled: US$ 2.00 per day.
Skilled: US$ 2.50 per day.
Labour and Employment Department, Government of Nagaland

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More Information on Nagaland

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