In an attempt to boost tourism, Andhra Pradesh government has decided to focus on facilitating the establishment of a world class hospitality sector in the state. The new tourism policy of the state has been formulated, keeping in view the state’s biggest Advantage of having a coastline (970-KM) along the Bay of Bengal. Chief minister Jagan Mohan Reddy went on to express his confidence on the fact that the policy will be one of the best in the country and will be a benchmark for all counterparts to emulate.
To ensure expeditious development of hospitality and tourism in the state, the government has proposed incentives that are some of the best in the industry and will attract both large-scale and small-scale investments. The following incentives shall be applicable to Tourism Projects
A. Reimbursement of 100% of net SGST accrued to state for all new units for a period of 5 years from COD or up to realization of 100% fixed capital investment, whichever is earlier.
B. Fixed Cost Power Reimbursement to New Tourism Units at Rs. 2.00 per unit for a period of 5 years from COD for all new Tourism Projects.
C. Reimbursement of 100% of stamp duty.
D. 100% Waiver of Land Use Conversion charge
