Haryana Government has announced incentives for the industrial units in Micro, Small and Medium Enterprises (MSME) sector. A government spokesman said that the new MSME set up in the backward areas (category B and C blocks) would receive financial assistance in the shape of interest-free loan to be quantified at 50 per cent of the tax paid on the sale of goods produced in such industrial units under the Haryana Value Added Tax Act, 2003.
This incentive would be for a period of five years from the date of start of commercial production and is repayable after a period of five years.
Another addition in the Policy was the electricity duty exemption for new MSMEs in backward areas, for a period of five years from the date of release of regular electricity connection.
