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India By State - Sikkim - Taxation & Legalities




Taxation & Legalities

 

Policies & Incentives

North East Industrial and Investment Promotion Policy (NEIIPP), 2007

The policy was introduced to promote the Northeast as an attractive destination through several concessions and incentives. The incentives and concessions on offer with the policy are:

  • 100 per cent excise duty exemption on furnished products made in the Northeast.
  • 100 per cent excise income tax exemption for industrial units
  • Capital Investment subsidy increased from 15 to 30 per cent 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.

Sikkim Tourism Policy, 2010

The tourism policy aims to build Sikkim as an attractive tourist location and promote the sector as an economic growth engine. The key initiatives and objectives of the policy are:

  • Community based eco-tourism to be promoted with the use of participatory management techniques.
  • Rural tourism, adventure/sports tourism, medical tourism, trekking, natural tourism, culture and heritage tourism, cave tourism, monsoon tourism, tea tourism etc to be promoted through PPP projects.
  • State to build the infrastructure for connectivity required to access the tourist spots.
  • To have a "State Capacity Building Institute" to train and equip locals to serve the tourism sector.
  • To participate in international tourist fairs and promote the tourism potential of Sikkim.
  • Single-window system for clearance of private investments in the tourism sector.
  • To provide concessions in luxury tax, service tax, service charges, electricity and water charges, and financial assistance on the capital outlay.
  • To provide legal support and regulations to protect the industry.

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IT policy of Sikkim, 2006

The IT policy aims to employ IT to provide better governance and generate employment. The key objectives of the IT policy are:

  • IT to be promoted as an employment generation vehicle for the state.
  • To set up software technology parks to promote call centres and business process outsourcing operations out of Sikkim.
  • To promote e-governance within the State Government and its schemes to deliver speedy services to the citizens.
  • To map all natural resources and the cultural heritage of Sikkim to preserve and promote its unique identity.
  • To connect all district headquarters and sub-division headquarters with high-speed optical fibre cable to provide seamless Internet connectivity across the state
  • Cyber laws, security and Intellectual Property Rights (IPR) to be implemented to protect and promote entrepreneurship and innovation in the IT industry.

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Doing business in Sikkim

List of approvals and clearances required

Departments to be consulted

Incorporation of the company Registrar of companies
Registration, Industrial Entrepreneurs Memorandum, Industrial licences Commerce and Industries Department
Permission for land use Commerce and Industries Department
Allotment of land Commerce and Industries Department
Site environmental approval Sikkim pollution control board
No Objection Certificate and consent under Water and Pollution Control Act Sikkim pollution control board
Registration under states sales tax act and central and state excise act Excise departments
Commercial taxes Excise departments
Sanction of power Energy and Power Department
Power feasibility Energy and Power Department
Power connection Energy and Power Department
Approval of construction activity and building plan Public Works Department
Water connection Water Security & Public Health Engineering Department
Water and sewerage clearance Water Security & Public Health Engineering Department

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More Information on Sikkim

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