AATMANIRBHAR GUJARAT SCHEME 2022–27
Dear-Businessman/Investors,
In Series of KIP: Business and Subsidy Update, today we are going to share with you an informative series i.e., “Net SGST Reimbursement” under Aatmanirbhar Gujarat Scheme 2022-27.
Objective:
The Government of Gujarat launched the Aatmanirbhar Gujarat Schemes in October 2022 to promote industrial growth and self-reliance. The policy replaces the 2020 Industrial Policy and aims to attract ₹12.5 lakh crore in investments and generate employment for over 15 lakh people.
Quantum of Assistance:
Net SGST Reimbursement Subsidy
Category of taluka | Quantum of incentive |
Category 1 | 100% of Net SGST for 10 years upto 7.5 % of eFCI p.a. |
Category 2 | 90% of Net SGST for 10 years upto 6.5 % of eFCI p.a. |
Category 3 & Municipal Corporation Areas | 80% of Net SGST for 10 years upto 5.0 % of eFCI p.a. |
Conditions for Net SGST Subsidy:
1 Separate registration by eligible enterprise under GST:
Eligible enterprise may obtain a separate registration under GST Act for manufacturing of eligible products only. The eligible enterprise shall have to obtain a separate registration for manufacturing of eligible product(s), if the enterprise carries out trading activity or is engaged in provision of any services apart from manufacturing.
2 In case an MSME has multiple manufacturing units, it shall have to maintain separate books of accounts for the industrial undertaking applying under this scheme and get the same certified by a Chartered Accountant.
3 Incentives shall be allowed only for goods manufactured in the premises of eligible enterprise and on the resale of any goods.
4 If the eligible enterprise has shown its inter-State sales as intra-State sales through intermediary/ marketing network/ or any other middle man, either directly or indirectly controlled by it, in order to get higher incentives then the eligibility certificate of the eligible network/ enterprise shall be liable to be cancelled with effect from the date of such contravention, and the eligible enterprise shall be liable to return forthwith the incentives availed together with interest at the rate of eighteen per cent per annum from the date of first availing of such incentive.
5 Reimbursement shall be made by the disbursing Authority on a Quarterly Basis
Eligible Entities:
Under this scheme incentives can avail by an entity/organisation such as Proprietary, Partnership, Pvt. Ltd. Company, Public Ltd., LLP (Limited Liability Partnership) and Co-operative society etc.
Fixed Capital Investment:
“Fixed Capital Investment” refers to the investments made for the establishment of a new enterprise, expansion/modernization/ substitution of existing enterprises (where applicable), including investment in land/land development, shed-building construction, installation of new plants and machinery, electricity supply, water supply, and boundary wall construction.
Commencement and Applicability:
The Aatmanirbhar Gujarat Scheme will be effective from October 2022 till October 2027.
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