Scheme for Financial Assistance to Integrated Logistics Facilities: Reimbursement of Stamp Duty

Scheme for Financial Assistance to Integrated Logistics Facilities: Reimbursement of Stamp Duty

The “Scheme for Financial Assistance to Integrated Logistics Facilities” is an initiative by the Gujarat government aimed at supporting private developers in establishing logistics facilities and parks. This scheme, part of the Gujarat Integrated Logistics and Logistics Park Policy, is designed to provide essential financial aid to ensure the development of comprehensive logistics infrastructure and services.

Overview of the Scheme

Launched by the Industries and Mines Department of Gujarat, the scheme commenced on August 2, 2021, and will remain operational until August 1, 2026. It focuses on offering financial assistance for the construction of Integrated Logistics Facilities and Logistics Parks, which are vital for the state’s economic growth. A key component of this initiative is the “Reimbursement of Stamp Duty,” which alleviates the financial burden on developers who incur stamp duty costs when acquiring land for new projects.

Key Benefits

• Financial Support: Developers can reclaim the stamp duty expenses incurred on land purchases necessary for their projects.
• Project Milestones: The reimbursement is contingent upon reaching specific project milestones, such as acquiring the requisite land and achieving a minimum of 40% construction completion.

Eligibility Requirements

• Only new units or projects qualify for reimbursement under this scheme.
• The reimbursement applies solely to stamp duty paid for land purchases made during the scheme’s operational period.

Exclusions

• Developers are ineligible for reimbursement if the land was provided by the government.
• Those who have leased or rented land will not qualify.
• Developers must have completed a minimum of 40% of the sanctioned construction to be eligible.

Application Process

Online Application

To apply online, follow these steps:

1. Navigate to the Investor Facilitation Portal (IFP) and select “New Investor Registration.”
2. Complete the Registration Form and click “Submit.”
3. Verify your email address using the link sent to your registered email.
4. Upon successful verification, your registration will be complete.

Post-Registration Steps

1. Return to the Investor Facilitation Portal (IFP) and click “Login.”
2. Input your registered email address and password.
3. Click “Login” to access your account.
4. Fill in the required information and upload mandatory documents related to your business to finalize the application.

Helpdesk Support

For assistance, contact the designated helpdesk.

Offline Application

To apply offline, adhere to the following steps:

1. Submit a completed application form with the necessary documents to the Industries Commissionerate.
2. The Industries Commissionerate will evaluate your application and may request additional information within 15 days.
3. The application will then be sent to the General Manager of the District Industries Centre (DIC) for an inspection and site visit report.
4. Based on the findings, the Industries Commissionerate may issue a Registration Certificate.

Sanctioning Procedure

1. After registration and layout plan approval, submit a detailed project report along with the application in the prescribed format to the Industries Commissionerate for sanction.
2. The Industries Commissionerate will review your submission and may request further details within 15 days.
3. Present your project to a Screening Committee led by the Industries Commissioner.
4. Upon addressing the committee’s remarks, your application will be assessed by the Sanctioning Authority for final approval in accordance with the scheme guidelines.

Eligible Term Loan

The eligible term loan refers to the amount sanctioned by a recognized financial institution or bank for the purpose of investing in gross fixed capital investment that corresponds to the enterprise’s gross fixed capital investment.

Date of Project Commencement

The date of project commencement marks the initial operation of the project activities.

Ineligible Expenditures

The following expenses are not eligible for any form of assistance:

• Costs related to land acquisition and development.
• Goodwill fees, commissioning fees, royalties, and preliminary or pre-operative expenses.
• Capitalized interest, technical consultation fees, and working capital.
• Any amounts not explicitly stated as eligible investments or any expenditures deemed ineligible by the Sanctioning Authority or SLEC.

Official Source

For more information, visit myScheme.gov.in.