The Atma Nirbhar Gujarat Scheme offers a comprehensive suite of incentives for mega industries, helping businesses grow and thrive in Gujarat. Here are the key benefits available:
1. Assistance of Interest Subsidy
Quantum of Interest Subsidy:
Eligible businesses can receive an interest subsidy at 7% on Term Loans, capped at 1.2% of Eligible Fixed Capital Investment per annum for up to 10 years.
- A minimum of 2% interest must be borne by the business on each term loan from financial institutions.
- If availing an interest subsidy from the Government of India, the state subsidy will ensure the business still bears at least 2% of the interest.
2. SGST Reimbursement on Sales
Quantum of Incentive:
Eligible projects are entitled to 100% reimbursement of net SGST, with a cap of 0.9% of Eligible Fixed Capital Investment per annum for up to 20 years, beginning from the commencement of commercial production.
3. Reimbursement of SGST Paid on Capital Goods
Quantum of Incentive:
Eligible mega industrial units can claim 100% reimbursement of SGST paid on capital goods during the investment period, as per the Gujarat GST Act 2017.
4. Reimbursement of EPF Contributions
Quantum of Incentive:
Businesses can claim reimbursement of the employer’s statutory contribution to EPF for new employees in Gujarat for up to 10 years from the start of commercial production.
- Covers 100% of the employer’s EPF contribution, capped at 12% of the employee’s basic salary, Dearness Allowance (DA), and retaining allowance, or INR 1,800 per month, whichever is lower.
5. Reimbursement of Stamp Duty and Registration Fees
Quantum of Incentive:
Eligible mega industrial units can claim 100% reimbursement of stamp duty and registration fees paid for the purchase or lease of land for their project.