POLICIES AND INCENTIVES

POLICIES AND INCENTIVES OF THE UP GOVT.

Electric Vehicle Key Policy Highlights

✓ Capital Interest Subsidy@5% p.a. for 5 years upto Rs 50 lakh p.a., to Large, Anchor EVMU/EBUs & MSME

✓ Infrastructure Interest subsidy@ 5% p.a. for 5 years upto Rs 1 Cr, to Large, Anchor EVMU/ EBUs & MSME

✓ Energy@100% exemption on ED to Large, Anchor EVMU/EBUs and MSME units for 10 years

✓ Vehicle Registration Fee@ 100% exemption from Vehicle registration fees (Only First 1 lakh buyers, and Vehicle manufactures in UP) –So far only 32277 vehicle sold in UP

✓ MSME units – Government of Uttar Pradesh will follow the MSME definition laid out by Government of India for MSME as per MSME Act 2006 as applicable under UP IIEPP 2017. This policy specifies incentives for MSME firms manufacturing components and end products that are part of the electric mobility ecosystem. These firms can be suppliers to both EVMUs and/or EBUs, or can be Service units providing repair and maintenance services.

✓ SGST Reimbursement : Net SGST reimbursement @90% for Small Industries for 5 years, @60% for Medium Industries for 5 years, @60% for Large Industries other than Mega Industries for 5 years, and @70% for Mega category Industries for 10 years. (Under UPI