The West Bengal Incentive Scheme: Tourism Promotion Assistance in lieu of Interest Subsidy

DETAILS The scheme “State Capital Investment Subsidy” is a sub scheme under “The West Bengal Incentive Scheme”. It was launched on 22nd February, 2021, by the Department of Tourism, Government of West Bengal, and shall remain valid upto 31st December, 2025. Objective of the "West Bengal Incentive Scheme” Scheme: The object of the Scheme is to provide financial assistance and help enthusiastic intending or prospective entrepreneurs to start their own business as a self-employed youth who will become an employer in upcoming days and generate more employment. Objective of the “Tourism Promotion Assistance in lieu of Interest Subsidy” scheme: Through this incentive, an eligible unit shall be provided with a Tourism Promotion Assistance for State Goods and Service Tax (SGST) irrespective of the location of the project, which will be in lieu of interest subsidy. BENEFITS Pattern of Assistance: Assistance at the rate of 75% of SGST for 5 years irrespective of the location of the project, which will be in lieu of interest subsidy. ELIGIBILITY The Scheme shall be generally applicable to all eligible tourism projects/units and also to expansion projects of existing units set up on or after the effective date (i.e. 22nd February, 2021) of this incentive scheme. Or, Eligible Hotel Units who started their commercial operation on or after 7th January, 2015 to 31st December, 2020 but could not apply under previous scheme 2015 due to absence of a Bar in the Hotel. The units may be in the private sector, co-operative sector, joint sector as also companies/undertakings owned or managed by the State Government. The project should be covered by a detailed feasibility report/project prepared for the purpose. The project should have been approved and sanctioned by a Central Financial Institution or Commercial Banks or State Financial Institutions. The unit should hold an Registration Certificate, Date of Commencement Certificate and Eligibility Certificate issued by the West Bengal Tourism Development Corporation Limited on satisfaction of arrangement. Exclusions The West Bengal Incentive Scheme shall stand non-applicable in respect of those tourism units that have been registered for and have been sanctioned incentives under any previous scheme. Any unit which may have applied for registration with the Directorate of Tourism under WBIS (West Bengal Incentive Scheme ) 2015, before the date of commencement of this Scheme and whose applications may have not been disposed off prior to the coming into effect of this 2021 Scheme or deemed to have been disposed of shall be entitled to all benefits under WBIS 2015 only.