The Government of Rajasthan on September 12, 2023, issued a notification regarding the amendment to the Rajasthan Investment Promotion Scheme 2022
This shall be deemed to have come into force on October 07, 2023.
The following has been modified namely: -
• It states in section 3.2 of the Scheme, that for the existing expression "but have not availed any benefit other than Stamp duty and Registration fee exemption", the following expression shall be substituted, namely: -
"but have availed no benefit of any exemptions or availed benefit of exemption from Stamp duty and/or Conversion charges."
• In section 6.2 of the Scheme (Additional Incentives for Manufacturing Thrust Sectors), after the existing expression "Defense" the following expression shall be added, namely: -
o Sports Goods Sector
o Toys Sector
o Civil Aviation
o e-waste recycling
• In Section In existing section 6.2 of the Scheme, for the existing expression "5% Interest Subsidy on term loan taken by enterprise from Financial Institutions or State Financial Institutions or Banks recognized by Reserve Bank of India, for making an investment in plant & machinery, for a period of five years subject to a 1 maximum of 2.5% per year of EFCI", the following expression shall be substituted, namely: -
"5% Interest Subsidy on term loan taken by enterprise from Financial Institutions or State Financial Institutions or Banks recognized by Reserve Bank of India, for making an investment in plant & machinery, for a period of five years subject to a maximum of 2.5% of the EFCI distributed equally in five years.
Provided that the Textile Sector and apparel sector enterprises will be eligible for a 5% Interest Subsidy on term loans taken by enterprises from Financial Institutions or State Financial Institutions Banks recognized by the Reserve Bank of India, for making an investment in plant & machinery, for a period of five years’ subject to a maximum of2.5% per year of EFCI."
[Notification No. F.12(32)FD-Tax-2022-III – 34]
