Investment Subsidy on SGST Paid: Department of Industry and Commerce of Haryana govt
If you are making State GST payment during the year then you can avail the benefit of “Investment Subsidy on SGST Scheme” issued by Department of Industry and Commerce of Haryana Govt.
Many times, being a businessman you have felt that too much GST need to paid by you. But don’t worry about this. Under this scheme State Govt. will refund you up to 75% of Net SGST paid during the year. Amount of subsidy shall be determined as per your block location (business location)
For example if your business is located in Hisar then your business shall be covered under “Block B”.
Pattern of Subsidy:
|Phase||Period||Block B||Block C||Block D|
|First||First 7 Years||–||75%||75%|
|First 5 Years||50%||–||–|
|Second||Next 3 Years||25%||35%||35%|
|Max. CAP||% of FCI||100%||125%||150%|
So, as per your business location (that we have assume as Block B) you can take the benefit of refund of 50% of SGST paid during the Financial Year up to first 5 Years.
Let’s take an example:
Suppose you have started your business in April 2019 with an Investment of Rs. 100.00 Lacs in Plant and Machinery and Building Construction. You have paid net SGST of Rs. 20.00 Lacs after taking the benefit of input tax credit during the F.Y. 2019-20.
Then you will be eligible for amount of Rs. 10.00 Lacs (i.e 50% of Rs. 20.00 Lacs) for the F.Y. 2019-20.
Further you can take such benefits up to 8 Years from the date of commencement of your business subject to the maximum amount of 100% of your Fixed Capital Investment.
In case, if you have made any expansion/diversification in your business then in that case, you can also take the benefits of such scheme. In that condition will be that your investment will be up to 50% or more of Initial Original Investment.
These benefits shall be also be applicable to units undergoing 50% additional investment in plant and machinery for expansion/ diversification of existing unit with cap of 100% of new fixed capital investment on expanded FCI.
So, take the benefit of said scheme and expand your business with more Sales turnover.
To know more about eligibility criteria and timing and filling of subsidy application, share your business with us at:
Jitender Kumar (90171-51780)(email@example.com)
KIP Financial Consultancy Pvt. Ltd.
DSB – 38, KIP Complex, Red Square Market, Hisar
For more benefits and scheme of Haryana Govt for MSME Unit read our blog: