Major benefits under RIPS, 2019
An eligible enterprise under the RIPS, 2019 shall get the following benefits and incentives as given below:
- Investment Subsidy in the form of 75% of SGST due and deposited for 7 years
- Employment Generation Subsidy in the form of reimbursement of 50% of employers’ contribution towards employees ESI and PF for 7 years
- Exemption from payment of 100% of electricity duty for 7 years
- Exemption from payment of 100% of Land Tax for 7 years
- Exemption from payment of 100% of market fee (mandi fee) for 7 years
- Exemption from payment of 100% of stamp duty
- Exemption from payment of 100% of conversion charges for change of land use and conversion of land
- In addition, the eligible enterprise shall also be provided interest subsidy or capital subsidy for the capital investment made by them in the new unit or expansion of existing unit. Interest subsidy or capital subsidy may vary in various sectors and depends on the fulfilment of eligibility criteria sector-wise.