Being a joint sector company and located in North east part of India, PBSL is granted various fiscal incentives. The Government of India has approved a package of fiscal incentives and other concessions for the North East region vide North East Industrial and Investment Promotion Policy (NEIIPP), 2007.
Following are the Fiscal Incentives available to Prag Bosimi Synthetics Limited under North East Industrial and Investment Promotion Policy (NEIIPP), 2007
- Excise Duty Exemption: Excise Duty exemption / refund on finished products made in the North Eastern Region.
- Income Tax Exemption: Income Tax exemption can be applicable in line with (NEIIPP), 2007
- Capital Investment Subsidy: Subsidy on additional investment in plant & machinery can be applicable under NEIIPP, 2007.
- Interest Subsidy: Will be made available on working capital loan advanced by Scheduled Banks or Central/ State financial Institutions, under NEIIPP, 2007.
- Comprehensive Insurance: New industrial units as well as existing units on their substantial expansion will be eligible for reimbursement of insurance premium.
- Transport Subsidy: With a view to promote the growth of industries in the North East region by the government of India under NEIIPP, 2007, PBSL is eligible for grant of subsidy on transport of both raw materials & finished goods to and fro from certain selected areas.
The Government of Assam has granted various subsidies. The benefits which are available to PBSL by Government of Assam are:
- VAT Exemption : 99 % exemption of tax payable under Assam Value Added Tax Act, 2003 and the Central Sales Tax Act, 1956 for seven years subject to maximum of 90% of additional capital investment.
- Power Subsidy : 25% subsidy on power tariff on actual units consumed for 5 years subject to Rs 25 lacs per annum
- Quality Certification/Technical Knowhow: 50% subsidy subject to maximum of Rs 1 lac for fees paid for obtaining BIS/ISO/FPO/Agmark or knowhow obtained from recognised laboratory like CFTRI/CIPET.
- Exemption from Stamp Duty& Registration Fee : 100% reimbursement of stamp duty & registration fee for setting up industrial infrastructure.
Participation in Trade Fairs :
- Reimbursement of 50% of rent subject to maximum of Rs 10000/-
- Reimbursement of 50% of transport cost incurred on exhibits for exhibition in South East Asia subject to maximum of Rs 50,000/- per exhibition.