The IT/ Knowledge Industry Policy for the State of Punjab puts in place a package of policy measures and incentives, which will make Punjab one of the most attractive investment destinations in the IT/ knowledge industry sector. The policy offers subsidies on capital investment, exemptions from zoning restrictions, conversion charges, electricity duty, stamp duty and registration charges, the new IT policy has outdone all previous policies in offering incentives.
In a major attraction, the policy also gives complete exemption to IT units from the prevailing zoning regulations in the state. This means that an IT unit can now come up virtually anywhere in Punjab; on agricultural, commercial, residential, institutional land and of course industrial land. All such units have been exempted from payment of conversion charges, also known as the change of land use charges.
The Highlights of the Policy are:
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Facility of Single Window service for IT/ ITeS investors.
- IT units/parks would be charged based on the actual units consumed.
- IT Parks will be exempted from statutory power cuts, restriction of peak load hours and weekly off power cuts.
- Electricity duty exemption for 5 years.
- Power Tariff charged at industrial rate irrespective of their location/zoning.
- IT Units/Parks will have permissible FAR of 300% on gross area of the project.
- No CLU charges and EDC to be levied on any component of Integrated IT Park.
- 100% Stamp Duty exemption (first sale transaction) on purchase/lease of built up office space within constructed IT Park.
- VAT on all IT products rationalized to be at par with the minimum floor rate of 4%.
- Exemption from clearance from Pollution Control Board.
- Exemption from inspection under various Labour Laws.
Click here to download complete text of the Policy. |
