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Scheme for Assistance to Micro, Small and Medium Enterprises (MSME): Assistance for Interest Subsidy (Service Sector)

The "Scheme for Assistance to Micro, Small and Medium Enterprises (MSME)" launched by the Industries and Mines Department aims to position Gujarat as a global business hub, promoting sustainable manufacturing, MSME growth, and export competitiveness.

Start date7 Aug 2020

Last verifiedToday

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About This Scheme

The "Scheme for Assistance to Micro, Small and Medium Enterprises (MSME)" is an umbrella scheme launched by the Industries and Mines Department, Gujarat. It aims to empower the state's dynamic MSME sector, which significantly contributes to employment, GDP, and exports. Effective from August 7th, 2020 to August 6th, 2025, this initiative supports entrepreneurs and strengthens MSMEs, making them globally competitive. The component "Assistance for Interest Subsidy (Service Sector)" provides interest subsidies on term loans for new MSMEs in the service sector. The subsidy applies to new machinery, equipment, and furniture/fixtures (excluding land and buildings).

Benefits

Financial Assistance:

₹35.0 L · annual

Category of Taluka Quantum of Incentive Category I8% on Term Loan with a maximum amount of ₹35,00,000/- per annum for a period of 7 yearsCategory II7% on Term Loan with a maximum amount of ₹30,00,000/- per annum for a period of 6 years Category III &amp;amp; Municipal Corporation Areas6% on Term Loan with a maximum amount of ₹25,00,000/- per annum for a period of 5 years

Additional Subsidy: 1% extra interest subsidy for registered startups in the service sector with Udyam/MSME Registration.

Eligibility

Note: You may be eligible based on the information shown. Please verify the official eligibility requirements before applying.

Required Documents

✦
Printed copy of the application along with declaration and undertaking in the application form signed by an authorized person, including their designation and name with the enterprise's stamp.
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Copy of acknowledgment of Udyog Aadhaar / Udyam Registration.
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Copy of term loan sanction letter.
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Copy of term loan account statement / bank certification of first disbursement certificate.
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Copy of the constitution of the enterprise (registered partnership deed for partnerships).
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Copy of DPR of the enterprise (for projects up to ₹5 crores); for projects above ₹5 crores, DIC will ask for a bank appraisal report.
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Shop & Establishment Certificate (for service sector enterprises in municipal corporations).
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Copy of GST registration (if applicable).
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Copy of PAN card of the enterprise.
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Copy of ITR for the last financial year showing plant & machinery value (new enterprises must submit a self-declaration for the first time).
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Copy of birth certificate/school leaving certificate (for entrepreneurs under 35 years as of the bank loan sanction date).
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Copy of caste certificate from a competent authority.
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Copy of certificate for differently abled persons from a competent authority.
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Copy of CTE issued by the GPCB (if applicable).
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Self-certified/certified copy of documents such as 7/12 Utara, Namuna 6, copy of index, property card, etc. (any one).
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NA permission (if applicable).
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Copy of notarized rent deed (agreement) with the owner's proof/affidavit for ownership of land/property.
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Copy of lease deed (agreement) with the owner's proof of ownership of land/property.
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Copy of the property tax receipt (for service activities).
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Board resolution for signing authority (in case of partnerships, LLPs, Pvt. Ltd., or Limited Companies).
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Declaration and undertaking regarding other investments in Gujarat.
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Annexure of the balance sheet showing the gross fixed capital investment of the previous financial year.
✦
CA certificate showing the gross fixed capital investment before initiating expansion/diversification/forward or backward integration.

✦ Required ◦ Optional

How to Apply

OOnline

Quick Info

Level: Central Government
Max benefit: ₹35.0 L
Launched: 7 Aug 2020