The Government of Haryana notified the NET SGST Reimbursement Scheme on July 23rd 2024. This Scheme aims to support the startups registered under the Haryana State Startup Policy 2022.
A Proactive Approach to Ease of Doing Business
The Government of Haryana has consistently championed a proactive approach to facilitate ease of doing business for startup entrepreneurs. The state has implemented precise policy-level interventions to position Haryana as a premier investment destination. The Haryana State Startup Policy 2022 reflects this commitment, focusing on the creation of a world-class startup ecosystem within the state.
Empowering Startups with Financial Support
The NET SGST Reimbursement Scheme is a pivotal part of these efforts, offering eligible startups financial support in the form of Net SGST reimbursement. Here’s a closer look at the key aspects of the scheme:
- Financial Support: Under this scheme, startups will receive a reimbursement of 50% of the Net SGST they incur.
- Duration: This reimbursement is available for a period of 7 years, providing long-term financial assistance.
- Cap: The total reimbursement is capped at 100% of the Fixed Capital Investments (FCI), ensuring that startups can maximize their financial planning and investments.
Driving Growth and Innovation
By offering this financial support, the Haryana government aims to drive the growth of startups and foster innovation across the state. The scheme not only reduces the financial burden on startups but also encourages them to invest more in their business operations, thereby contributing to the overall economic development of Haryana.
The NET SGST Reimbursement Scheme is a testament to Haryana’s commitment to nurturing a robust startup ecosystem. By alleviating financial pressures and encouraging investment, the government is paving the way for a new wave of entrepreneurial success in the state. Startups in Haryana now have a powerful ally in the state government, dedicated to their growth and sustainability.
