4) PNA re mm a, PUNJAB Gov 1. GAZ, (EXTRA), NOVEMBER 2), 26) erence, (KRTK 29, 1937 SAKA) eee * aa” € dm ! 2 a ee eee ee | PART I] GOVERNMENT OF PUNJAB DEPARTMENT OF EXCISE AND TAXATION NOTIFICATION © The 18th November, 2015 No. G.S.R.60/P, modification of the Go Notific A.8/2005/Ss.8, 8-E and 70/Amd.(2)/2015.- In partial } vernment of Punjab, Department of Excise and Taxation, ation No. G.S.R.63/P.A.8/2005/Ss. 8, 8-E and 70/2013, dated the 6th December, 2013, and in exercise of the powers conferred by section 70 read with section 8, 8-E of the Punjab Value Added Tax Act, 2005 (Punjab Act No. 8 of 2005), and all other powers enabling him in this behalf, the Governor of Punjab is pleased to maké the following rules further to amend the Punjab Value Added Tax (Incentives) Rules, 2013, namely:- RULES
1. (1) These rules may be called the Punjab Value Add Amendment Rules, 2015.
ed Tax (Incentives)
(2) They shall come into force and on with effect from the date of their publication in the Official Gazette. |
2. Inthe Punjab Value Added Tax (Incentives) Rules, 2013 (hereinafter referred to as the said rules), for the words “Industrial Policy of 2013”, wherever occurring, the words “Fiscal Incenti ves for Industrial Promotion- 2013” shall be substituted, : :
3. Inthe said‘rules, inrule 2 .
(i) for clause (h), the following clauses shall be substituted, namely:- | “(h) ‘eligible unit” means,-
(a) in the case of a new unit, - | a unit, which. has been or has to be set up at " anew site. An existing enterprise which sets anew unit, shall be eligible for incentive only then if it sets such new unit, at an independent, distinct or separate site, may be within the -game premises;
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(b) in the case of expansion prajeet, ah expansion project means a anit in an chipiblo ares satisfying the following conditions rane ly;
(1) Vhere shall be a minimum 40% Wereaxe in the Fixed Capital Investinent (original value without depreciation) for all Projects with original investment of Rs. 100 “Fore or less subject to the condition that the minimum increase in the Fixed Capital Investment would be Rs. | crore,
(2) For projects with original 'ivestinent above Rs. 100 crore, the minimum increase in Fixed Capital Investment shall be 25% subject to a minimum limit of Rs. 50 érore; and
(3) Such expansion shall have to be carted out afler the cutoff date of 01.04.2013 meaning thereby that the unit shall make the requisite investments only after 01.04.2013 as expansion of the existing project;
(th) “Health Sector Units” means hospitals, polyclinics, diagnostic centres, hospitals attached with the medical colleges and medical research institutions:”:
(i) in clause (j), for the words “an industrial unit” and “industrial”, the words “an industrial, tourism and health sector unit” and “such” shall, respectively, be substituted:
(ui) clatuse (r) shall be omitted;
(iv) in clause (1), the words “and goods” shall be omitted: and (v} after clause (w), the following clause shall be inserted, namety:- “(ww) “Touriam Units” shall mean hotels, MICK, heritage hotels, hotel-cun-spa, TeHOrt-Cutm ape, nee tourism projects, green hotels, special foetal wart (farmhouses, bread and breakfast, peated Scanned with CamScanner PUNIAR & ‘ - 4 -# + ‘ ‘4 “>. « “= » e . os r¢£ ct i fe #1 . ri) wf C; \/. r TRA A Nye iar Wl ae Fs i, -— * -— < !
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A“CoMuNadation Guest house), ecw-tus wit eas ax . > - E i = ‘ i te - " : 4 > ie 2c “Rlertainmenr infrastructure as regulated Py : De 5 T vey pees © ie ‘ -- ? die Cat emer “sPartinen: of LOouritimn urder thee LOurwsrm Iodisirucs Promotion Pelicy, which shail be eligidie for avating in * lew oe) i ners » 2 ‘ _- :
Lae eSSROVES in accordance with the Fiscal incentives for
3. Inthe said rules, in rule 3,- 1} insub-mile (2) ¢ ord a 4 ad wnt ule (2), for th wn y.. “ore 3 . _ . . a the words “ir _— . *S PTOCuttion” sed “ints Crocwactnor. , : tS Production Cr Comme; 212} Cpe *, “Ti act wEto . ro 5 e ; : . = -~ r == SS ee = Pp cuction Orr uUrning Condition” 7 tT : ’ t i ie ad “- Silas L fwscective ™! ce SI wet y o~ *Pung ’ * ~ 7 7 oe > He me a te ete ag, u In b-ryle fad\ ¢ “ we Tule (4), for the WOrd “goods”, the word “un ts” shall be —_ ? - a keke b = a ~ substituted- ; a . (ti) after sub-rule (5), the following sub-rule shall be inserted namelv-- (5-A) The tax iNCEntives shal] be available to a health sector unit On account of tax Payable on g limbs or Other items used on ind emed sales of implants, artificia!
OOF patients:
Provided that No incentive shal] be medicines or other m and permissible on re-sale o;
> edical items to indoor or outdoor patents.”-
(iv) insub-rule (7), for the words “the Production in the unit”, the words “the production in the unit or health sector unit Cr tourism umit, as the case may be” shall be substituted: and
(v) after sub-ru le (7), in the Explanation, for the words “existing unit”, the words “existing unit, tourism unit or health sector unit, as th case may be” shall be substituted. | In the said rules, after rule3 , the following rule shall be inserted, namely:
“3-A. Conditions for eligibility, entitlement. -These incentives shall be admissible to an ‘eligible unit’ in relation to an expansion Project subject to the following conditions, namely:-
(1) These incentives shall not be available to the units specified in the Negative List given at Annexure ‘A’,
(2) These incentives shall be admissible to an expansion project, which falls in an eligible area and in respect of which an Eligibility Certificate has been granted by the competent | authority.
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(4)
(5) (Ke RV The maximum t Of ncentive py ;
different AMO ANA tables My If UnyY false Ince Ws recove Branted or being State Government ine Tax regime,” 1A7,, (EXT i Hie OTinvestiney ‘Yeferred to rile 4, declaration If;
lives or if any iS Not cligible, th red from the dat interest SoOmpounde INCONtives py © of availing d annually @ aval ‘), NOVEMIER 90, 2015 456 NIM tryvgaera Cine t ives arin Cnt kinds of industries and with shall be as per the restrictions Riven for the purpose of availing S availed for which the unit AMOunt of Incentives are liable to be Of such incentives slonpwith 18% per annum, *d would be suitably modified by the onformity with the Goods and Services we Se oe ng Rn es eer oe
4. Inthe said rules, in rule 4,-
(i) in the Table, after item (vi), the following items shall be inserted, namely:- “(vil) Incentives for Tourism Industries:
Categorization Category-| Catepory-2 » Category-3 Category-4_ based on FCI FCl above FClabove = FC] above investmentslab Rs. lcrto . Rs. 28 erto Rs. 50crto Rs. 100¢r . Rs, 25 cr Rs.50cr Re. 100 cr a VATICST 40% 50% 60% 15%, ' Eligibility period 5 7. 8 10 in years , a
(viii) Incentives for Health Sector Units: | Investment —_—Category-1 a ae Category-3 Category — ae Scruptol0cr Morethan l0cr More than SO cr 4 From 3 crup Zone _ up to 50 cr .
From 25 crupto50cr Morethan 50 or More than 100 cr Zone-2 | up to 100 er . .
.
tee ~ Scanned with CamScanner PUNJAT GOVT. GAZ, (EXTRA), NOVEMBER 20,2015 9 497 UNIVE 29, 1937 SAKA) investment Category. | Woe Catepory.2 (iepory-3 (ate Rory . .
. {A ema - a. eee pitas LOE \ . . A’ 0 - MA 14, , y/ i ieee ee / ore ’ —— AMM wernt, SM OP%, a rensectpamsion ai Period Of Incentives ‘stiment Cilepory. ‘atans .
Invest Kory] Catepory-2 Category-3 Category .
— = | a be renee ete teens Pav. s Veors a Zone ae a _ Syears 10 years ee Zone-2 6 years 7 Veare Lares ee years 7 years": and (i) aflersub rule (2), the following g “G) The Breen hotels shall aval Sales Tax incentives in addition to the benefits admissible under different Slabs in the category of investments, but shall not exceed the maximum available incentives under category-4 (i,c, above Rs. 100 Crore FCI), (4) The ex . Pansion project in an Cligible area shall be entitled to the incentives under sub-rule (1) on the en ub-rules shall be inserted, namely:- l extra Value Added Jax or Central ifie , and a separate Account of enhanced or additional production resulting from. such expansion shall mandatorily be maintained.
- EXPLANATION: ‘Enhanced or additional production’ in relation to an expansion project shall mean production over and above either the installed capacity or actual production before such expansion, whichever is more, ], If the date af commencement of incentive Jor the eligible unit is 01.04.2014 and the unit before expansion is having an ave quarterly production of 100,000 units of the product over the } years and the installed quarterly capacity is 90,000 units of the product. if such a unit, after expansion, Produces 1, 20, 000 units per quarter, then. the enhanced a additional] Production in the quarter will be taken as 20, 000 units of the Product.
rage — ast 2
2. If the date of commencement of incentive for the ‘ 01.04.2014 and the unil before expansion is hay duction of 100,000 units of the product over pro | eligible unit ing an quarterly the last 2 years d the installed quarterly capacity is 1, 10, 000 units of the p an > HF : roduct, oe Scanned with CamScanner PUNJAB GOVT Oa: SX’ B GOVT. OAZ. (EXTRA), NOVEMBER 29 2015 - (KRTK 29,1947 SAKA) a if st 458 wha unit, after ONDOQUNST Oy then the enhanced oy anh ) Produces 1, 20, 000 units per quarter, uy . . lonal production in the quarter will be the product."
In the said rules, in rule 5. " S i & Q) in sub-rule (1), for the words and sign “refer the matter to the Interdep artmental Committee, constituted by the State Government, for the purpose of determination of Fixed Capital Investment.”, the words “determine the actual Fixed Capital yo | Investment after taking into account the Project Appraisal Report of the Bank or Financial Institution, certificate of Chartered Accountant, invoices of purchase of capital goods and the industrial norms, as the case may be, regarding the capital investment.” shall be substituted; and’ * (ii) sub-rule (2) shall be omitted.
6. The Punjab Value Added Tax (Incentives for exemption projects) Rules, 2015 shall be repealed.
ANURAG AGARWAL, Financial Commissioner and Secretary to ~ Government of Punjab, Department of Excise and Taxation.
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