Haryana government has now taken up the initiative to increase an overall business activity in the state by which considering they have launched an “Investment Subsidy on VAT/ State GST” plan for all the projects termed ultra-mega projects, mega projects, large units, Micro, Small and Medium and sectors (MSME).
These industries will consider various sector under it, like textiles, agro and food processing, footwear and defense, aerospace, electronics, auto components and Railways. The investment strategy has come up to attract all those industrial giants to set up their manufacturing units in the states.
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Talking about the Micro, Small and Medium Enterprises, the 75 percent of the VAT/SGST will be net paid for first seven years, 35 per cent for next three years in ‘C’ a ‘D’ category blocks; 50 percent for first five years, 25 percent for next three years in ‘B’ category blocks after the starting of the commercial manufacturing including a seal point of 100 percent of latest fixed capital investment for new entities.
And coming to the Mega, Large and MSMEs of Aerospace/ Defence/ Auto Components sector/ Electronics 75 per cent of VAT/SGST would be net paid for first seven years, 35 per cent for next three years in ‘B’, ‘C’ a ‘D’ category blocks keeping a 100 percent capping of new fixed capital investments for the recently introduced business entities.
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