Haryana’s SGST Refund Policy for Startups

Purpose

• To boost the startup ecosystem in Haryana.
• To promote economic growth and encourage new businesses.

Incentives Offered

• Refund on the GST paid to the state government by startups.
• You can get back up to 50% of the net SGST you paid in a financial year.
• This refund is available for up to 7 years.
• It can cover up to 100% of your Fixed Capital Investment (FCI), like buildings, machinery, and tech investments.

Eligibility Criteria

• Your startup must be registered with the DP IIT and the Haryana government.
• You need to have a Haryana Udyam Memorandum registration.
• Your business location must have all necessary approvals and not be in a restricted area.

Application Process

• Apply for these subsidies within six months after the financial year ends, such as by March 31, 2024.

Additional Benefits

• Other benefits include seed grants, interest subsidies, and market development programs.
• These incentives also apply to MSME units.

How to Maximize Opportunities

• Connect with KP for help in getting these benefits.
• Join the KP business community to stay updated on subsidies through their YouTube channel and other platforms.