_.. hee yA WE TAD US | Scanned with CamScanner (AB GOVT. GAZ, (EXTRA), DECEMBER 06,201) } (AGIEIN 1S. 144 SAKA} Certificate means a Ce ee oe by Lit’ ertity ile granted hy thy COTTE pe ier vir tee eiry -ooriod) means the maxin : | able | uM period during which an eligible unit car c . ntive limit grante hd (tye pyyus } I inte (| and if shall commence W ithy etter { ren ‘Pie pro al of the unit, x lh 4 ite OF | ‘means anew hic ple unit TS ew unit which has to be set up at a new site, An existing which sets anew u ' | in anter™ nit shall be eligible for incentives only if the new ated at an independent ¢ .
is 108 ales p ident and distinctly separate site, may be in the same vellt *<.
prem!
; unit’ means an oe g um y other unit which is not availing incentive under the industrial Policy of 201 3;
, Fixed Capital Investment (FCT)’ shall include the investment of building (excluding ( ant and machi land). plant and machinery and equipment in relation to an industrial unit, including miscellaneous — ii know-how and other cost components associated with the industrial activity as appraised and firmed up by Banks or Financial Institutions;
¥) ‘Form’ means a Form appended to these rules;
0 ‘Government’ means the Government in the Department of Excise and Taxation;
(m) «ncentive limit’ means the maximum cumulative quantum of tax incentive granted, | which can be availed by an eligible unit during an eligible period;
(n) “nformation technology’ means information technology and telecommunicat ion;
(0) ‘information Technology Industry’ means information technology, hardware and | software industries;
‘Integrated Steel Plant’ shall mean a steel plant in which final end product is to be sold in retail sale such as sponge iron, billets, balooms, slabs etc. and 1s manufactured starting from iron ore or scrap and all the processes concerning such manufacturing are performed in the plant itself;
posite process including ‘Integrated Textile Unit’ means which consists of com nd products like spinning, weaving or knitting, processing and manufacturing of e fabrics, garments, towels, etc.;
Scanned with CamScanner \ [3 . GOVT. GAZ. (EXTRA), DECEMBER 06,2013 1495 (AGHN IT), 1935 SAKA) ee a ——— mee — mn) “ ment al Committee” means committee constituted ay suc h by the Stale Hit ich shall con > Wenre i al yt, WH Iptise representatives from the Department af ic!
dnent of Industries ;
\) . De ‘ps ill CS and Departme nt (| } XCISE and Taxation;
, means a WO } {ae (Uriily process by which the material is transformed into a 1 ail ro ' nt and distinct product with the minimum value addition of 25% in the f the raw material, but does not include the process of treating, repairing, sing reconditioning, assembling, electroplating, polishing, blending, cutting, reatment, wire dra ng, he’ tt Wing and conversion of penultimate product into dye , produc! for the purpose of availing incentives:
fine NegatlVe List’ means the list of units and goods specified in Annexure-A;
‘head authority’ means cic . ade | prescribed | , an Assistant Excise and Taxation Commissioner, vy charge of the district;
ynener© stax’ means tax under the Acts, excluding surcharge under the Punjab Value Added Act, 2005;
“tax incentive’ means the amount of tax collected and retained by the eligible unit but the retention of tax shall be restricted to that part of net tax liability accrued ynder the Acts (after adjusting it against input tax credit if any available), in case of the unit availing incentive scheme, which is adjustable against the incentive \imit granted under the Industrial Policy of 2013. The net tax liability on account of surcharge accrued under the Punjab Value Added Act, 2005 shall not form the part of tax incentives;
| x) ‘Zone | area’ means an eligible area notified as such by the Industrial Policy of 2013; and
(y) ‘Jone II area’ means an eligible area notified as such by the Industrial Policy of
2013. — — — — e e [.
Conditions for eligibility and entitlement.- (1) The incentives shall be available to only —_ Section the new manufacturing units which came or come into production on or after 1.4.2013. oe
(2) These incentives shall be available only after the unit commences its production.
For the units which have come into production before the date of notification of these rules, the incentives shall commence from the date of notification.
(3) The new unit has to be set up at a new site. An existing enterprise which sets up ‘ncentives only if the new unit is located at an anew unit shall be considered for Scanned with CamScanner OVT. GAZ. (EXTRA), DECEMBER 06, 2013 | | * (AGHN 15, 1935 SAKA) (and distinctly separate site, may be in the same premises.
centive shall not be available to the goods specified ‘nthe Negative List 9 qhe , annexure ‘A giv" hi : centives shall be admissible to a unit which has been set U a respec! of which an Eligibility Certificate has been granted.
jyjmum ume period and maximum cumulative amount of incentive available p inan eligible @) rea!
ent kinds of industries and with different amounts of investment shall be qhe
(0) of differ ar the restrictions and tables.
p 4s r the commencement of the production in the unit availing incentive, If in 4 er, the gross WMOVST of any already existing unit having stake holder ed to its base s turnover , then for the purpose of determination of incentive, the f the unit availing incentive in that period shall be deemed as n that - sin uae.
common with 6S turnover O e amount by which the sum of gross turnovers of both the units 1 the unit availing incentive, comes down as compat ; qual to th 9 eriod exceeds the base gross turnover of the already existing unit.
fot” ‘Base quarterly gross turnover’ means an average quarterly gross turnover we, .
po” existing unit over a period of two years preceeding the date of commencement re os tt ve for the ell gible unit.
ine?
For the purpose jing ncentive sha iV 4 eligible unit is O1 (4.2014 and the already existing unit, having common stakeholders, fof is paving all nats from Ql.
povel of rupees grOSs turnover 0 of determination of incentive, the deemed gross turnover of the unit 1 be calculated as follows:- If the date of commencement of incentive average quarterly gross turnover of rupees one lac only over a period of two
04.2012 to 31.03.2014 and subsequently, for the quarter 30.09.2014, a gross seventy five thousand only is shown in respect of that already existing sivand 2 f rupees two lac is shown for that quarter in respect of the unit qvaillNg incentive scheme.
quarterly gross turnover = Rs 1.00 lac _ Base oth the units for the quarter ending 30.09.2014 | gum of gross turnovers of b Rs (0.75 +2.00) lac Rs 2.75 lac The deemed gross turnover of the unit availing 1
9909.2014= Rs (2.75-1.00) lac=Rs 1.75 lac.
ncentive for the quarter ending Bad = Scanned with CamScanner “a a | . ves : ll are rhe Gi NIABGOY I. GAZ. (EXTRA), DECEMBER 06, 2013 1397 (AGHN 15, 1935 SAKA) —_ hari WON IS / [se dec Riven lor the purpose ol avi ling incentive! , OF any avi aile cl for whi are ch unit Was nol elig ible. the amount of Ine entives ye recovered fro able 0 m the date of availment of such incentives along _qterest compounded annually @ 18% per annum.
ment of India is i .
yvern n the process of Introducing a uniform Goods and 0) os Tax (GST) regime throughout the country, In such event, the benefits gervic’ afated incentives granted under the Acts or being availed would be suitably moe ified DY the State Government in conformity with the Goods and Service [ax yntum of entitlement.- (1) The tax incentives from the liability to pay tax under the ves for new large manufacturing Sector units :
b nroge ard to group of industries situated in different zones shall be available subject ye xin benefits as per tables given below:
Mm se Fixed Capital Fixed Fixed Capital Investment —— Capital Investment from Investment above Rs.25cr to from Rs.500cr Rs. 100cr Rs.100cr to Rs. 500cr ios “ont! Quantum ofincentive 60% VAT+ 70%VAT + 80% VAT+ | available 75% CST 75% CST 15%CST | Maximum cumulative 60% of Fixed 70% ofFixed 80% of Fixed | quantum of incentive Capital Capital Capital Investment Investment Investment _ Quantum of incentive 30% VAT+ 35% VAT+ 40% VAT+ available 50% CST 50% CST 50% CST Maximum cumulative 30% of Fixed 35% of Fixed 40% of Fixed quantum of incentive Capital Capital Capital Investment Investment Investment at ili S 10 I 13 ibility from date of application 1) year Section R-E Scanned with CamScanner JAW GOV TL GAZ (LATA), DECEMBER 06,2014 | || un | (AGITIN 15. 1955 § AKA) } —_— fu panulncturing 6eCLOr Units With Fixed ¢ ‘apital ‘Investment from (ive” i! er ee ' {a fii | * ob | a os jt) ; 1 , : ——————_ ' ite rin (Capital investment Maxinyurny « umulative Efigsbility i ' pe ’ , , wll Al fran jis 1) 1 a \Z » &IUI Quanto cf iWicentive from (jate of fal jl application in uintintiiniieniel year» / 18% CS’ R. a) VAI | ‘ S| SO% of rized Capital 4 fi eV EBMENt j . —— a —=>EE— ( _ a 46) NAV + 50% CST | a 4 | ? Vif | 25% Of ined Capital % | so" Investment lee) y manu ce entives lo acluring sector units with Fixed Capital Investment from ) i! : 1.0 Cr to Rs 10 Cr:
pie Aven Fixed Capital Maximum Eligibility yl iM Investment cumulative from date of from Rs.ler quantum application in toRs. 10cr — ofincentive = years es tndustrial Focal Points, ) wihin APP 30% VAT+ 50% of Fixed 7 hs srial Fstates and Industrial Parks 15% CST Capital ——— Investment a in Incentives for Integrated Textile Units.
pligible Area Fixed Capital Fixed Capital Investment Investment from Rs.150 above Grto500 Cr Rs. 500 cr Textile Zone 1.e.
| la) districts of Mansa, Bathinda, Quantumof 80%VAT+ 90% VAT+ Muktsar, Fazilka, Ferozepur, incentive 80% CST 80% CST Faridkot, Moga, Barnala, available Sangrur, Patiala, Amritsar and Tarn Taran Scanned with CamScanner pl INJ AB GOVT. ( 1AZ. (EXTRA) » DECEMBE 113-139 (AGHN 15, 193¢ MBER 06,2013 1399 SAKA) Maximum 80% of Fixed 90% of Fixed “UMUlative ‘eet I ave Capital Capital jus Wantum of , | Investment Investment , Stale: INCeNtive ae I Fixed Capital Fixed Capital ivestment R Investment Investment S. ICr to < (Rs.25 Crto (Rs. 100Crore Rs, —_— ee) <Ré.100 Cr and above).
nc s 85% VAT+ 90% VAT+ ae —2*CST 80% CST 85% CST | ymulative quantum of yes it Of Fixed 95% of Fixed 90% of Fixed pe 0° oe Capital Capital Investment Investment Investment ve f application j sibility from date of application in years 10 10 19 incentive for Electronic Hardware and Information Technology Industry Software Sector
(i) seth Hardware sector vestment Fixed Capital Investment Fixed Capital Investment 5 Crore (Rs. 1 Cr and above) and Above al .
sre Mohali and Amritsar Only Whole of State of Punjab ss Incentive 80% VAT+ 80% CST 80% VAT+ 80% CST Maximum cumulative 80% of Fixed Capital 80% of Fixed Capital quantum of incentive Investment Investment Eligibility fromdate of 10 10 pplication in years
(2) The maximum quantum of incentives from the liability to pay tax under the Acts shall be calculated at the prevalent rates of tax payable on the taxable turnover of the concerned units.
Scanned with CamScanner 3 GON GAZ. (EXTRA), DECEMBER 06, 2015 (AGHN 15, 1935 SAKA) j\ . ee ee vy (AX HN entive. (1) An eligible unit shall make an application the ily 101 ihe § rant ol Eligibility Certificate for availing tax incenuves r all sation, the CO ‘ent « .
yg the app! Mpetent authority shall rete the matter to the of af ‘ ‘ a "y j . ae t . ell satal § omimiltec, Ce nstituted by the State Government, for the purpose ‘ jon ol eixed Capital Investment, f ‘ iil nt sntal Committee sh: : ‘ besnaed i? | cer depann™ nmittee shall determine the actual Fixed Capital frer taking into ace ; eueel amen after | b iccount the project appraisal report of the Bank or | ‘rtion, certificate of ioe _jancial Institut ate of Chartered Accountant, invoices of the purchases .
total Fiscal ives | oF cince the total Fiscal incentives cannot be more than 100% of the Fixed Capital : ; »refore, the eligi + hol :
| ° iavest™ nt, there e eligible unit shall inform the competent authority about ihe quantum of tax incentives it wants to claim, subject to the aforesaid cap of tal Fiscal incentives.
pn itions regarding availability of input tax credit to a person purchasing goods from jyailind incentlve scheme,-(a) The unit availing incentives shall issue a VAT invoice/ b ail -qvoice, a the case may be, as is issued by a unit which is not availing incentive e ao . : Fn , Bc The provisions regarding availability of input tax credit as applicable to person “si goods froma unit which is not availing incentive scheme shall apply mutatis sands (0 2 person purchasing goods from a unit availing incentive scheme:
ft provided that if the goods sold by a unit availing incentive scheme on VAT invoice are apsequently sold or used in manufacturing, processing or packing of goods for sale, by a axable person ‘n the course of inter-state trade or commerce or in the course of export putside India, that taxable person shall be entitled to claim input tax credit only to the extent sftax actually deposited by the unit availing the incentives, in the State Treasury.
| (b) Minimum period required for availing benefit of incentives,-
(i) ifthe unit availing the benefit of incentives dis-continues its business before the expiry of the incentives period or before the exhaustion of the incentive limit granted, it shall be liable to deposit the entire amount of incentives availed into the Government Treasury along with interest compounded annually @ 18% per annum; and Scanned with CamScanner yp aov? GAZ. (EXTRA), DECEMBER 06, 2015 1401 r N (AGHIN 15, SAS SAKA) rives shall be re hi nce” shall be required to continue ite operation Ulli \\ wera vi i pay eqmulative CAN | , cury 4 i WS OTOUNT @qiial (6 at lemat SO!
ia ieany van | vat 50% of the amount ol e il CiOSes 8 ;
< vailed OS It usine sa helore the ha an’ ne Hable 1 deposit the diffe Appeniny of euch an ( all ‘ erential ul i} = lative am ie amount of pcentives ~ cum ec amo Cl Wot LAK paid into the Government treasul ‘ / yi ve : yd (hi ee act compounded annual vf reres ‘ ily We ‘y ; ‘ath 18% per annum ec 10) * _ tives. Lhe entire (ax incentive AX MCeHUVES granted in respect ol an eligible 4-V f itis el .
AV vw ' a ‘ d qmouln t, h ill be lable lo he withd rawn hy ihe Commi ssion el if it . i) a!
ye! 5 as ail cjigibilid Certificate has been obtained by fraud, deceit, mis mis-statement or concealment of any material fact, oF vg incentives has 1 ad | ie anit 2 ailing | es has indulged in any type of malpractice like pilling, bogus claim of input tax credit; or Y ‘ hoe Is mit has concealed any particulars from any return furnished by him, or che ' (i [eee . . L liberately furnished incorrect particulars therein, or the ynit has de iY :
.
as con cea e = | | | ;
° a y transa ctions of sale or purcha se from his \ account pooks: OF » the unit has not maintained intelligible accounts, which prevent the Commissioner or the designated officer to assess the tax due from him, oF unit has availed input tax credit to which he is not entitled to; or wii) te vii) the
(ix) the U ynit has claimed refund which was not due to him; or ait has claimed credit in respect of tax, which was not actually paid, the person who has been found to be shall pay by way of penalty, a ons of section 56 of n. However, no g heard.
the Commissioner may direct that above irregularities or malpractices, ncentive availed by him. The provisi also be applicable to such perso affording opportunity of bein In addition, “ulging in any of the “ym equal to twice the amount of 1 ue Added Tax Act, 2005, shall ‘hePunjab Val y the Commissioner without nrder shall be passed b ile the Section ertificate shall continue to f The unit holding Eligibility C made thereunder. 3 Filing of returns.- (1) der the Acts and the rules returns in the manner as provided un Notwithstanding anyt hing contained ding Eligibility Certif icate, in these rules, the unit hol - * ay Scanned with CamScanner pUNJAB GOVT. GAZ. (EXTRA), DECEMBER 06, 2015 4 40- (AGHN 15, 1935 SAKA) ee ‘, attested copy ol the Eligibility Certificate and’ ch!
ate and Lreasury au eipts as prook of a ,mount ol “continue to do so tl » ite ill Il the incentive is fully availed of or the period ¢ 5 4 ) sic “~ 5 ¢ f* Ff B N ; | th A | { J i) W/ ¥ if \ “ . ynt aT ag ay ' a0 7 ' } _, these rules, expires, whichever is earlier “{ ; i a f .nent of taX.- (1) The assessme ta! es J nt of an eligible unit in respect of which an gs" i certificate nas a I shall be made in accordance with the provision® of Ps and the rules a? as eunder, but it shall preferably be made within a period of r yeu! from ae nS the aaa statement or due to be filed, whichever 15 ij _ The addition and so determined, if any, shall be paid into the ¢ sovernment é as pet the provisions of the Acts and the rules made thereunder.
order of withdrawl of the incentives is passed before the Eligibility Certificate is 1) if am yable ye expiry: the entire amount of tax incentive availed by the unit shall become pa t and penalty, ag etiate in lump-sum and the provisions relating to recovery of tax, interes fany: er the Acts, shall be applicable in such cases. The provisions of section 35 of the jue Added Tax Act, 2005 shall also apply mutatis mutandis regarding recov ery of pynjad V4 erest and penalty due under these rules concerning first charge of State on the x, 0 sopetty of the unit availing incentive.
0, Registers to be shall maintain a register 1 of Bligibility Certificate s putes.- If any dispute arises Te s to be granted, the matter ), whose decision shall be fin maintained by the Prescribed authority.- The Prescribed authority n respect of units availing incentive and entries regarding the grant hall be made in the register So maintained.
of the unit or the garding eligibility nancial shall be referred to the Fi al and binding on the unit.
II. Settlement of dis quantum of incentive Commissioner (Taxation Scanned with CamScanner