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ON WEST BENGAL  > Government Incentives for IT  > 
WB IT Incentive Schemes, 2001

Incentives

  • State Capital Investment Subsidy
  • Interest Subsidy
  • Waiver of Electricity Duty
  • Employment Generation Subsidy
  • Remission of Stamp Duty and Registration Fee

    State Capital Investment Subsidy:

    An eligible IT unit shall submit an application to the Managing Director, WBIDC Ltd. / WBEIDC Ltd. in the Form No – II as appended hereto for the purpose.

    The Corporation, if on scrutiny of the documents is satisfied, will work out the admissibility of the Capital Investment Subsidy and will as early as possible inform the applicant of the quantum of admissibility of such subsidy and the mode of disbursement thereof, by the Corporation.

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    Interest Subsidy:

    An eligible IT unit may apply to the Managing Director, WBIDC Ltd. / WBEIDC Ltd. for interest Subsidy on the interest liability on account of the loan secured by the unit from Bank(s) / Financial Institution(s) / NBFC approved by the Reserve Bank of India in the Form No – III annexed hereto. Immediately on receipt of the application the Corporation will correspond with the concerned Bank(s) / Financial Institution(s) / NBFC and obtain a certificate in the format at Annexure-A to Form No – III regarding payment of interest against the loan secured for implementation of the approved project and the Corporation, if satisfied about the payment of interest to the Bank(s) / Financial Institution(s) / NBFC according to the norms of the scheme will sanction interest subsidy in favour of the applicant unit to be credited to its account maintained in the concerned Bank(s) / Financial Institution(s) / NBFC under an intimation to the unit.

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    Waiver of Electricity Duty:

    An eligible IT unit may apply to the Directorate of Electricity for waiver for electricity duty in Form No. – IV annexed hereto with a copy to the Director of Industries, West Bengal. The Director of Industries after receipt of copy of application from the IT unit will cause an enquiry and ascertain the actual date of commencement of commercial production to the IT unit and communicate the date of commencement of commercial production of the project, for which the benefit is claimed, to the Directorate of Electricity, following the required norms, with a copy to the applicant unit.

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    Employment Generation Subsidy:

    An eligible IT unit may apply to the WBIDC Ltd. / WBEIDC Ltd. in the Form
    No – V annexed hereto, for reimbursement of admissible subsidy on account of expenditure incurred for contribution towards Employees States Insurance and / or Employees Provident Fund with a certificate issued by the respective authorities regarding contribution made by them in the manner as per Annexure-A to Form No – V. The Corporation on scrutiny of papers will sanction and disburse the subsidy as admissible to the unit.

    Remission of Stamp Duty and Registration Fee:

    An eligible IT unit may apply to the Director of Industries for remission of Stamp Duty and Registration Fee as may admissible according to provision of the scheme in the Form No – VI annexed hereto.

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Scrutiny of the application for incentive

Immediately on receipt of the application the Director of Industries will scrutinise the admissibility of the incentive and issue certificate in the format Annexure-A to Form No – VI to the concerned registration authority about admissibility of such benefit for the approved project, with a copy to the applicant unit.

Capital Investment Subsidy to IT Units:

IT Industries on their relocation to approved industrial complex, if such relocation is accompanied with modernisation, may be considered by the State Government to Capital Investment Subsidy. The quantum of subsidy will be 15% of fresh Investment in plant and machinery, computer hardware, computer software, subject to maximum of Rs. 150.00 lakhs in case of large and medium scale units and 25% of fresh investment in plant and machinery, computer hardware, computer software, in case of small scale units.

The Director of industries will verify the application with the books of accounts of his office and if on verification the unit is found to be eligible for Capital investment Subsidy, in terms of the provision of the scheme, he will record his recommendations in the Format at Annexure – A to Form No – VII and forward the same to the Managing Director, WBIDC Ltd. / WBEIDC Ltd. for sanction and disbursement of the admission Capital Investment Subsidy to the applicant unit. A report regarding such sanction and disbursement when made will be sent by the WBIDC Ltd. / WBEIDC Ltd. to the Directorate of Industries for their information and record.

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