Government of Punjab Department of Industries and Commerce (Policy Implementation Unit) Notification No. PIU/IBDP-2017/Amendments/2018/ [8% Dated: 17-10-2018 The Governor of Punjab is pleased to make amendments in ‘Industrial & Business Development ~~ Policy-2017 notified vide No.CC/Addl.Dir/Industrial & Business Development/2017/1369 dated 17/10/2017. The word “ Net SGST” as mentioned in Industrial & Business Development Policy 2017 and in its Detailed Operational Guidelines shall be adopted as under:- i. If A = (Net SGST + Net CGST + Net IGST) on sales 2 Incentive Amount will be calculated based on output IGST or (CGST + SGST), hereinafter GST Rate, as given below:
a) If GST Rate, is upto 10% Incentive Amount = 100% x (A) b) If GST Rate is more than 10% and upto 15% Incentive Amount = 75% x (A) c) If GST Rate is more than 15% and upto 20% Incentive Amount = 50% x (A) d) If GST Rate is more than 20% Incentive Amount = 25% x (A)
Provided that:
A). in the case of a unit with multiple outputs having more than one GST rate the incentive amount as above shall be calculated pro rata to the respective sales (value as defined in GST law) of eligible outputs; and B). if the amount calculated as above is less than 2.5% of the FCI in any particular year the unit will be entitled to get such difference as the additional amount of incentive subject to the fact that it has been able to achieve sales of three times of the FCI. For example if the GST incentive for a unit with FCI worth Rs 100 cr and sales of Rs 310 cr in a FY comes to Rs 1 crore in a FY, the unit shall be able to get an additional amount of Rs 1.5 cr as incentive. The unit operating for a part of the year in the year of commencement of business or in the terminal year of the incentive period will get the amount on pro rata basis with the requirement of sales being three times of FCI also applying on a pro rata basis.
Overall quantum and/ or period for claim of incentives shall remain same as defined in IBDP-2017 (as amended from time to time) for the respective category.
Availing of incentives up to the overall ceiling i.e. 200% / 125% / 100% of FCI, as applicable shall depend upon the capacity utilization of the unit during the eligibility period.
Beyond the above formulation, following terms & conditions shall be applicable:
(a)
(b)
(c)
(d)
(e) In case of Units which have opted for Composition Levy U/s 10 of the Punjab GST Act 2017, the incentives shall be the amount paid by such Unit to the State, as per the returns filed by the Unit.
The incentive shall exclude any refunds entitled to be obtained by the taxpayer for any reason including on exports, or deemed exports.
The incentive shall not apply to Tax liable to be revised on account of any credit note issued to the recipient (buyer).
The incentive shall not apply to any tax that may become payable due to any show-cause notice issued by the department on grounds of collusion, fraud, misrepresentation and other similar grounds mentioned in the GST law requiring penal action.
The incentive shall not be given in respect of any tax credits which the tax payer has failed to avail on any grounds whatsoever (like late filing of prescribed return or the fraudulent conduct of his supplier etc.)
Sunset Clause iv. In view of the fact that the GST regime is still evolving, the fiscal incentives under the present Policy would only be applicable for such investment proposals where Common Application Form has been submitted by 31st March 2020.
Vini Mahajan, IAS Dated: 17-10-2018 Additional Chief Secretary to Govt of Punjab Department of Industries and Commerce, Punjab No. PIU/IBDP-2017/Amendments/2018/ 4€ 89 — $0) Dated: 17-10-2018 A copy is forwarded to the following for information and necessary action:-
1. Additional Chief Secretary, Animal Husbandry, Fisheries and Dairy Development, Government of Punjab, Chandigarh.
2. Additional Chief Secretary, Excise & Taxation, Government of Punjab, Chandigarh.
3. Additional Chief Secretary, Department of Housing & Urban Development, Government of Punjab, Chandigarh.
4. Additional Chief Secretary, Revenue, Government of Punjab, Chandigarh.
5. Additional Chief Secretary to Government of Punjab, Department of Health & Family Welfare, Chandigarh
6. Additional Chief Secretary, Development, Government of Punjab, Chandigarh.
7. Additional Chief Secretary to Government of Punjab, Department of Food Processing, Chandigarh
8. Additional Chief Secretary to Government of Punjab, Department of Medical Education & Research, Chandigarh.
9. Additional Chief Secretary to Government of Punjab, Department of Higher Education, Chandigarh.
10. Principal Secretary, Local Government, Government of Punjab, Chandigarh.
11. Principal Secretary to Government of Punjab, Department of Finance, Chandigarh.
12. Principal Secretary to Government of Punjab, Department of Planning, Chandigarh.
13. Principal Secretary to Government of Punjab, Department of Non-Conventional Energy, Chandigarh.
14. Principal Secretary to Government of Punjab, Department of Labour, Chandigarh.
15. Principal Secretary to Government of Punjab, Department of Power, Chandigarh
16. Principal Secretary to Government of Punjab, Department of Food, Civil Supplies & Consumer Affairs, Chandigarh.
17. Principal Secretary to Government of Punjab, Department of Information Technology, Chandigarh.
18. Principal Secretary to Government of Punjab, Department of Science Technology & Environment, Chandigarh.
19. Secretary, Technical Education and Industrial Training, Government of Punjab, Chandigarh.
20. Secretary, School Education, Government of Punjab, Chandigarh
21. Secretary to Government of Punjab, Department of Tourism & Cultural Affairs, Chandigarh.
22. Secretary to Government of Punjab, Department of Civil Aviation, Chandigarh.
23. Chief Executive Officer, Investment Promotion, Government of Punjab, Chandigarh.
Deputy Secretary to GOVE] fer ent of Punjab Department of | ial mmerce No. PIU/IBDP-2017/Amendments/2018/ S©|2— | 3 Dated: 17-10-2018 A copy is forwarded to the following:-
1. OSD/CPSCM for the kind information of Chief Principal Secretary/Hon’ble CM, Punjab, Chandigarh.
2. Secretary/ CS for the kind information of Chief-Secretary, Punjab, Chandigarh.
Department ; Cael & Commerce No. PIU/IBDP-2017/Amendments/2018/ Soly- |S Dated: 17-10-2018 A copy is forwarded to the following for information:-
1. Additional Chief Secretary to Govt. of Punjab, Department of Industries & Commerce, Punjab, Chandigarh.
2. Director, Department of Industries & Commerce, Punjab, Chandigarh.
Deputy Sere r E ermment of Punjab Department of Indistries & Commerce No. PIU/IBDP-2017/Amendments/2018/ 5¢/§ Dated: 17-10-2018 A copy is forwarded to the Accountant General, Punjab (Audit Section) for information and necessary action.
Deputy Secretary to.Government of Punjab Department of Industries & Commerce No. PIU/IBDP-2017/Amendments/2018/ So [7] & Dated: 17-10-2018 A copy is forwarded to the Principal Secretary to Government of Punjab, Department of General Coordination (Cabinet Affairs Branch) with reference to their letter No.01/194/2018- 1Cabinet/ 6322 Dated: 17-10-2018.
Deputy Secretary to nt of Punjab Department of Industries & Commerce No. PIU/IBDP-2017/Amendments/2018/ <0 | § + Dated: 17-10-2018 A copy of the above is forwarded to the Nodal Officer (E-gazette, Printing & Stationary, Department of Industries & Commerce, Punjab, Chandigarh with the request for uploading on the website of Printing & Stationary Department for the publishing of the same in the Punjab Govt. Ordinary Gazette.
Deputy Secretary to Gogarmipent of Punjab stries | f Department of J erce