Rapid technological developments are bringing to the fore new sectors that can become drivers of future growth. Some of these sectors that have a high potential for growth, diversification and investment have been identified as Sunrise Sectors.
The following incentives are applicable to projects in Sunrise Sectors that are Mega and Ultra-Mega Projects for “A” Districts, or Large, Mega and Ultra-Mega Projects for “B” & “C” Districts.
Investment Promotion Subsidy
The Project shall be eligible for an Investment Promotion Subsidy through 100% SGST Reimbursement for Final Products (or) Flexible Capital Subsidy with Sunrise Booster of one which implies an additional capital subsidy of up to 7.5% of EFA (or) Fixed Capital Subsidy (or) Turnover- based Subsidy.
|Rs. 4000/- per worker per month for 6 months||Residents of Tamil Nadu|
|Rs. 6000/- per worker per month for 6 months||Women and transgender employees, persons with benchmarked disabilities, persons from SC/ST communities|
Land Cost Incentive
For eligible projects in SIPCOT in “A” & “B” districts, land allotment will be made at a 10% concessional rate and at a 50% concessional rate in “C” districts for land up to 20% of EFA.
- Electricity tax exemption for 5 years
- 100% stamp duty exemption will be given for lease or purchase of land/ shed/ buildings meant for industrial use in land obtained from SIPCOT. In the case of private lands, stamp duty concession will be given as a 100% back ended subsidy for up to 50 acres on fulfillment of investment and employment commitment.
- 25% subsidy on the cost of setting up environmental protection infrastructure (Safety & Energy, Water Conservation, Greening and Pollution Control solutions) subject to a limit of Rs. 1 cr
- Subsidy of 50% of the total cost incurred for obtaining quality certifications, limited to Rs. 1 Cr for the period of investment
- 50% of the expenditure incurred by the Project will be reimbursed subject to a maximum of Rs. 1 Cr lakh for patent, copyright, trademarks, Geographical Indicators registration.
SGST Refund on Capital Goods
If the company faces an inverted tax structure due to which it is neither able to utilize the ITC on capital goods for payment of output tax nor able to obtain a refund of the same, the Government will refund the Input SGST paid on capital goods within the standard investment period, to the extent input tax credit is admissible under TNGST Act 2017.