Subsidy for Punjab
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Are you MSME unit in punjab
If yes ,
Then avail subsidy for punjab i.e “Incentives for MSME units under “Punjab Industrial & Business Development Policy, 2022”.
MSME sector plays an important role –
• In providing large employment opportunities.
• In industrialization of rural & backward areas.
• In socio-economic growth.
Punjab has a strong base of close to 3.5 lakh MSME units truly reflecting the enterprising spirit of the State
Major Subsidy Benefits Available to Punjab - Based MSME units are as follows :
1. Reimbursement of Net SGST : 100% for 7 years from the date of commercial production with a cap of 100% of FCI.
2. Exemption/Reimbursement from Stamp Duty : 100% exemption/reimbursement from stamp duty for purchase or lease of land and building.
3. Reimbursement of guarantee fee charged under Collateral Free Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) Scheme : 100% of guarantee fee to be reimbursed to micro and small enterprises (Max. – Rs. 2 Lacs p.a. for 5 years) from date of commercial production.
4. Exemption from Electricity Duty : 100% exemption for a period of 7 years.
5. Additional Support of interest subsidy under Credit Linked Capital Subsidy Scheme (CLCSS) of Ministry of MSME, Govt. of India : 5% interest subsidy (Max. – Rs. 5 Lacs p.a. for a period of 5 years from the date of commercial production to all those units eligible under CLCSS scheme.
Note :
The companies which have already availed the CLCSS scheme and exhausted its limit are also eligible for additional benefits.
MSME Units
All manufacturing and service industry units as defined by Ministry of MSME, Government of India from time to time.
However, for the purposes of subsidy benefits, service enterprises shall be limited to the list given below :
i) IT and ITES
ii) Life Sciences
iii) Skill Development Centres, Incubation Centres, Accelerators
iv) Healthcare
v) Tourism & Hospitality
vi) Media and Entertainment
vii) Logistics
viii) Maintenance, Repair and overhaul (MRO) in the Aviation & Defence Sector
ix) Industrial R&D labs, Industrial Testing Labs
x) Engineering and Design Services
xi) Equipment Rental and Leasing (construction and industry related)
xii) Equipment Maintenance and Repair
xiii) Environment services (Sewage/ refuse disposal)
xiv) Common Utility services like steam, air, water, etc
xv) Printing presses offset printing press, Flexi/Vinyl Printing, Flexo printing
xvi) Design Studio with investment more than 50 lakh on Machinery & Equipment
xvii) Auto servicing and /or repairing units with investment more than 50 lakh on Machinery & Equipment
xviii) Packaging activity with investment more than 50 lakh on Machinery & Equipment
xix) Any other service enterprises notified by the State Government for inclusion in the list from time to time.
Period of Applicability of Scheme to avail subsidy for punjab:
The Policy will be applicable for period of 5 years with effect from 17th October, 2022.
If you are MSME unit located in state of punjab & want to avail subsidy benefits. Then, you can avail benefits as discussed above. So, plan accordingly.
If you want to know more subsidy for punjab:- https://kipfinancial.com/incentives-for-punjab-based-startups/
To know in more detail then book a free Consultancy :- https://forms.gle/RQicNC67oPsiVRe79
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