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Punjab Fiscal Incentives - 2013

Punjab Fiscal Incentives - 2013. Industrial Promotion Policy, 2013 FISCAL INCENTIVES. Department of Industries and Commerce, Government of Punjab. Punjab Fiscal Incentives - 2013. Introduction Incentives for Manufacturing Sector Units. Incentives for Integrated Textile Units.

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Punjab Fiscal Incentives - 2013

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  1. Punjab Fiscal Incentives - 2013 Industrial Promotion Policy, 2013 FISCAL INCENTIVES Department of Industries and Commerce, Government of Punjab

  2. Punjab Fiscal Incentives - 2013 Introduction Incentives for Manufacturing Sector Units. Incentives for Integrated Textile Units. Incentives for Agro / Food processing Industries Incentives for Electronic Hardware and IT industry Way forward Contents www.pbindustries.gov.in

  3. Punjab Fiscal Incentives - 2013 Economic Snapshot –% Distribution of GSDP 1. Introduction www.pbindustries.gov.in

  4. 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 www.pbindustries.gov.in

  5. 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 1. Introduction www.pbindustries.gov.in

  6. Punjab Fiscal Incentives - 2013 2. Incentives for Manufacturing Sectors www.pbindustries.gov.in

  7. Punjab Fiscal Incentives - 2013 2. Incentives for Manufacturing Sectors

  8. 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 3. Incentives for Integrated Textile Units. www.pbindustries.gov.in

  9. 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 & Milk • No purchase tax will be levied on wheat and milk purchased & processed within the State. 4. Incentives for Agro / Food Processing Industries www.pbindustries.gov.in

  10. 4. Incentives for Agro / Food processing Industries 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 www.pbindustries.gov.in

  11. 5. Incentives for Electronic Hardware and Information Technology units Punjab Fiscal Incentives - 2013 • 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 • . www.pbindustries.gov.in

  12. 5. Incentives for Electronic Hardware and IT industry 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 • . www.pbindustries.gov.in

  13. 5. Incentives for Electronic Hardware and IT industry Punjab Fiscal Incentives - 2013 Contd. • Electronic Hardware manufacturing industry • Preferential Market Access (PMA) • Special incentive for Semi- Conductor Wafer FAB • . • . www.pbindustries.gov.in

  14. 6. Way Forward Punjab Fiscal Incentives - 2013 • Facilitation Measures:- • For the ease of doing business in the state, Approval to be accorded in accordance with following major steps • Simplify procedures and documents. • Transparent work flows • Online application and approval • Self attestation of documents • Third party certification of building plans, stability, safety etc. • Payment gateway for online payments www.pbindustries.gov.in

  15. 6. Way Forward ( contd.) Punjab Fiscal Incentives- 2013 • . • 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. www.pbindustries.gov.in

  16. Thank you

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