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Punjab Fiscal Incentives - 2013
Industrial Promotion Policy, 2013
FISCAL INCENTIVES
1Department of Industries and Commerce, Government of Punjab
Contents
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Punjab Fiscal Incentives - 2013
1.Introduction
2.Incentives for Manufacturing Sector Units.
3.Incentives for Integrated Textile Units.
4.Incentives for Agro / Food processing Industries
5.Incentives for Electronic Hardware and IT industry
6.Way forward
1. Introduction
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Punjab Fiscal Incentives - 2013
Economic Snapshot –% Distribution of GSDP
1. Introduction
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Punjab Fiscal Incentives - 2013
Fiscal Incentives will :-
► Enable Secondary and Tertiary sector contribution in CAGR.
► Enhance the industrial contribution toward state CAGR (95% of the total industrial units are small and medium category)
► Over all development of State by providing incentives in zones
• Less developed zone/ Areas will have – More Incentives
• More Developed zones/ Areas will have – Less incentives.
1. Introduction
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Punjab Fiscal Incentives - 2013
Liberal incentives for all sectors
►Manufacturing sectors
►Integrated Textile units
►Agro and Food Processing sectors
►Electronic Hardware and Information Technology sectors
2. Incentives for Manufacturing Sectors
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Punjab Fiscal Incentives - 2013
Zone I
Fazilka, Ferozepur, Tarn Taran, Amritsar, Gurdaspur, Pathankot, Hoshiarpur, Sangrur, Barnala, Mansa, Bathinda, Sri Muktsar Sahib and Faridkot. All approved Industrial Parks, Industrial Focal Points and Industrial Estates in all districts of the State.
Zone II
Patiala, Fatehgarh Sahib, Ludhiana, Moga, Jalandhar, Kapurthala, Shaheed Bhagat Singh Nagar (Nawanshahr), Rupnagar and Ajitgarh(Mohali).
2. Incentives for Manufacturing Sectors Punjab Fiscal Incentives - 2013
Eligible Area FCI Rs. 1.0cr to Rs. 10cr
FCI aboveRs.10cr to below Rs. 25cr
FCIRs.25cr to below Rs. 100cr
FCIRs.100cr to below Rs. 500cr
FCIRs.500cr and above
ED SD PT
Zone I50%VAT+ 75% CST(*only in IFPs.)
50% VAT+
75% CST
60% VAT +75% CST
70%VAT +75%CST
80%VAT +75%CST
100% 100% 100%
Maximum cumulative quantum of incentive
50% of FCI 50% of FCI
60% of FCI
70% of FCI 80% of FCI 100% of FCI
N.A. N.A.
Zone IINil 25%
VAT+ 50% CST
30% VAT+
50% CST
35% VAT+ 50% CST
40% VAT+ 50% CST
50% 50% 50%
Maximum cumulative quantum of incentive
Nil 25% of FCI
30% of FCI
35% of FCI 40% of FCI 50% of FCI
N.A. N.A.
Eligibility from date of application in
7 Yr 8Yr 10Yr 11Yr 13Yr
3. Incentives for Integrated Textile Units.
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Punjab Fiscal Incentives - 2013
Retention of VAT and CST
Electricity Duty Incentive
Stamp duty Incentive
Property Tax Incentive
Market Fee/ Rural Development Fund/ Infrastructure Development
Cess Incentive
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Punjab Fiscal Incentives - 2013
► Retention of VAT & CST Incentives
► Electricity Duty Incentive
► Stamp Duty Incentive
► Property Tax Incentive
► Mandi Fee, RDF, ID Cess Incentives
► Purchase Tax incentive on Wheat & MilkNo purchase tax will be levied on wheat and milk purchased & processed
within the State.
4. Incentives for Agro / Food Processing Industries
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Punjab Fiscal Incentives - 2013
(ii) Large Scale Industry ( Investment above Rs 10 Cr & Loan from
FI/Bank)
► Retention of VAT & CST Incentives
► Electricity Duty Incentive
► Stamp Duty Incentive
► Property Tax Incentive
► Mandi Fee, RDF, ID Cess Incentive
► Purchase Tax incentive on Wheat & Milk
► No VAT/Entry tax will be charged on farm equipment
4. Incentives for Agro / Food processing Industries
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Punjab Fiscal Incentives - 2013
i. IT/ ITeS/Knowledge Industry
► VAT incentives
► Power related Incentives
► Stamp duty Incentives
► Property Tax Incentives
► Exemption from PPCB
► Exemption from inspection under labour laws
► Exemption from PAPRA
► Incentives related to Housing and Urban Development
.
5. Incentives for Electronic Hardware and Information Technology units
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Microsoft Office PowerPoint Presentation
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Punjab Fiscal Incentives - 2013
ii. Electronic Hardware manufacturing industry
► VAT incentives
► Power related Incentives
► Stamp duty Incentives
► Property Tax Incentives
► Exemption from PPCB
► Exemption from inspection under labour laws
► Exemption from PAPRA
► Incentives related to Housing and Urban Development
.
5. Incentives for Electronic Hardware and IT industry
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Punjab Fiscal Incentives - 2013
ii. Electronic Hardware manufacturing industry
► Preferential Market Access (PMA)
► Special incentive for Semi- Conductor Wafer FAB
.
.
5. Incentives for Electronic Hardware and IT industry
Contd.
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Punjab Fiscal Incentives - 20136. Way Forward
► Facilitation Measures:-
For the ease of doing business in the state, Approval to be accorded in accordance with following major steps
i. Simplify procedures and documents.
ii. Transparent work flows
iii. Online application and approval
iv. Self attestation of documents
v. Third party certification of building plans, stability, safety etc.
vi. Payment gateway for online payments
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Punjab Fiscal Incentives- 20136. Way Forward ( contd.)
.Steps already taken
►PPCB : Simplified Consent Management for investors:
•Online consent Management with online payment facility
•Common application form for industry
•Exemption from Site clearance u/s 41 (A) of the Factories Act, 1948 for industries set up in designated/ approved areas.
Thank you
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