Subsidy on Water Tank Business
Subsidy on Water Tank Manufacturing Unit
Are you want to start Water Tank Manufacturing Unit?
Subsidy schemes available on setting up a “Water Tank Manufacturing Unit”
There are highly requirement for the storage of water in every field whether in house, industry or other commercial area. For the daily requirement of water, it increases the highly demand for the storage items for them as water tanks. These water tanks are used in industries as well as other commercial, household areas.
There is highly profitable business of water tank manufacturing. The Government will also support the manufacturing units in financial and non-financial terms in order to boost the economy as a whole. There is various schemes of the Government of Haryana to support the irrigation pipe business unit to reduce the cost burden.
Financial Assistance/Subsidy on Water Tank Manufacturing Unit:-
1. Manufacturing units having registration of Start-ups:
The Haryana Government will provide the special incentives for the manufacturing units who will registered under startup to encourage them and boost the new innovation and technology to promote the industrial base. The following subsidies are available for start-up units as follow:
a. Net SGST subsidy: 100% of Net SGST for 7 years but maximum up to 150% of fixed capital Investment.
b. Interest Subsidy: 8% of interest subsidy on loan but maximum up to Rs 20 Lakh per year for 5 years.
c. Seed Grant subsidy up to INR10 Lakh per start-up subject to block category of unit and many more subsidies are also available to the units.
2. Water Tank Manufacturing unit in the State of Haryana- Haryana Enterprises and Employment Policy, 2020 (HEEP):
The policy is applicable to the all entities having MSME and HUM Registration. It provides financial support in form of various subsidy schemes such as:
1. Stamp Duty Refund Subsidy- 100% subsidy on the stamp duty paid on the purchase of land for the business purpose
2. Capital Subsidy for the Micro Business having investment of up to Rs 1Crore- The subsidy available is 15% on investment in plant and machinery, building with subject to maximum Rs. 20 lakh per year.
3. External Development Charges (EDC) Reimbursement: Maximum 100% of EDC charges will be reimbursed to the unit. EDC charges includes the charges paid at the time of obtaining change of land use (CLU) from DTP.
Note: There are several other schemes under HEEP issued by state government, the quantum of benefits available under these schemes depend upon the block as specified by the government under which the entity falls.
Time limit to apply under HEEP:
Within 3 Months from the commencement of commercial production.
So if you are planning to set up a business of Water Tank Manufacturing, then you should plan accordingly and take maximum benefit of the above said policies.
If you want to receive regular update on warehouse business opportunities and subsidy scheme then Join,
KIP: Warehouse Business and Subsidy update Plan at: https://rzp.io/l/warehousebusinesssubsidy
Our Help Desk:
KIP Financial Consultancy Pvt. Ltd.
DSB – 38, KIP Complex, Red Square Market, Hisar – 125001