Incentive Scheme for MSMEs in Powerloom Sector: Subsidy for State Goods and Services Tax (SGST)

The scheme “Subsidy for State Goods and Services Tax (SGST)” is a sub scheme under the “Incentive Scheme for MSMEs in Powerloom Sector”. It was launched on 1st January, 2022, by the Department of Micro, Small & Medium Enterprises and Textiles, Government of West Bengal, and shall remain valid upto 31st December, 2024. > Objective of the "Incentive Scheme for MSMEs in Powerloom Sector”: The objective of the Scheme is to extend fiscal incentives for installation of New age shuttleless Powerlooms by MSMEs in Textile sector with a view to boost production of the improved quality fabrics and to create a sustainable ecosystem for MSMEs in Textile sector which can maximize the utilization of resource, generate new employment and widen the area of operation to make the State emerge as the leader in Powerloom sector in country. > Objective of the "Subsidy for State Goods and Services Tax (SGST)" Sub-scheme: Through this incentive, an eligible micro, small and medium enterprise in the Powerloom sector for its approved project will be entitled to refund of Net SGST paid to the Government of West Bengal for 8 years from the date of commencement of commercial production.