Incentives by MSME Department for Setting Up of Aromatic Industries in Aroma Park located at SIIDCUL, Kashipur - Centre for Aromatic Plants

DBT (direct benefit transfer): No

Categories: Business & Entrepreneurship

Target beneficiaries: Individual

Tags: Aromatic, Aromatic Industries, Entrepreneur, Aroma Park, Interest Subsidy

• Under this scheme industries to be set up in Aroma Park are provided with investment promotion assistance interest subsidy reimbursement of SGST exemption from stamp duty exemption from market fees and supply of electricity at concessional rates as detailed in the table below: Sr. No. Criteria Incentives for units to be set up 1Investment promotion assistance40% (maximum ₹40lakh) on the fixed capital investment made in plant and machinery and workshop building of the enterprise2Interest Subsidy10% of the interest payable on term loans taken for construction of workshop building and purchase of plant & machinery for a period of 5 years from the date of commencement of production (maximum ₹8lakh per year per unit)3Reimbursement of SGST100% of the net SGST liability on sales made to customers within the state (B2C) for a period of 5 years from the date of commencement of production4Exemption from Stamp DutyFull exemption from stamp duty charges payable on registration of sale deed/lease deed for land for establishment of the enterprise5Exemption from Market Fee100% exemption from market fee on raw materials for a period of 5 years from the date of commencement of production6Supply of Electricity at Concessional RatesFor a period of 5 years from the date of commencement of production electricity will be supplied at concessional rates applicable for irrigation/tubewell (currently ₹1.55 per unit) along with uninterrupted supply

Who is eligible for this scheme?

Entrepreneurs or individuals interested in setting up an aromatic industry in Aroma Park, SIIDCUL, Kashipur, are eligible to avail of the scheme benefits. <br>

What types of incentives are provided under the scheme?

The scheme provides: - Investment promotion assistance - Interest subsidy on term loans - Reimbursement of SGST - Exemption from stamp duty - Exemption from market fees - Electricity supply at concessional rates <br>

What is the Investment Promotion Assistance offered?

40% of the fixed capital investment made in plant and machinery and workshop building of the enterprise is provided as assistance, up to a maximum of ₹40 lakh. <br>

How does the SGST reimbursement work?

100% of the net SGST liability on sales made to intra-state customers (B2C) is reimbursed for a period of 5 years from the date of commencement of production. <br>

How can one apply for a plot in Aroma Park?

Applications are invited online through advertisements posted on SIIDCUL’s e-procurement website: [https://esiidcul.com/eprocure/home](https://esiidcul.com/eprocure/home). <br>

What information is required to apply?

Applicants need to select their preferred plot size and submit the Earnest Money Deposit (EMD) online as specified in the advertisement. <br>

How are plots allotted?

Industrial plots are allotted based on the online bidding process. The highest bidder is awarded the plot, subject to availability, following the process outlined by SIIDCUL. <br>

When is the allotment letter issued?

The successful applicant is issued an allotment letter after the completion of the bidding and selection process. <br>

Where can one find details about vacant plots?

Details about vacant plots, plot sizes, EMD, and advertisements are available on the SIIDCUL website: [www.siidcul.com](https://siidcul.com/). <br>

• https://www.myscheme.gov.in/schemes/imsmesaiaplsk
• https://uk.gov.in/department92/library_file/file-04-12-2023-06-02-23.pdf

• Guidelines (Page No. 233)