| Regd. No. NW/CH-22 | 1341 Regd. No. CHD/0092/2018-2020 | |
| PUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 17, 2020 (BHDR 26, 1942 SAKA) | ||
EXTRAORDINARY
Published by Authority
CHANDIGARH, THURSDAY, SEPTEMBER 17, 2020 (BHADRA 26, 1942 SAKA)
GOVERNMENT OF PUNJAB
Department of Industries and Commerce
(Policy Implementation Unit)
CORRIGENDUM
The 16th September, 2020
No. PIU/IBDP-2017/OG-2018/2020/3527.-The Governor of Punjab is pleased to make following amendments in Clause 16.3, 16.4, 16.5 and 16.6 of Chapter-16 of Detailed Schemes & Operational Guidelines, 2018 notified vide No. PIU/IBDP-2017/2018/4010 dated 07.08.2020 for scheme for providing incentives to start-ups under Industrial & Business Development Policy, 2017:-
Clause Existing Clause under Detailed Schemes Amended Clause
& Operational Guidelines, 2018
Start-up Registration
16.3 Start-up Registration
The registration by a start-up entity for recognition The registration by a start-up entity for recognition
can be done online by filling a Start-up Registration can be done online by simply filling a Start-up
Forms STA (for Provisional Registration) or STB
Registration Form and giving self- certification
(Registration) which would be processed as per
for the following set of documents:
procedure defined in clauses 16.4 and 16.5 below
and giving self-certification for the following set of Sr. no. (i) remains same.
(ii). Self-certification for Start-up definition:
documents:
(ii) Self-certification for Start-up definition (As amended by DPIIT, Government of India from time to time):
• Upto a period of ten years from the date
• Date of incorporation / registration of entity
of incorporation/ registration, if it is
is not prior to seven years, however for
incorporated as a private limited
Biotechnology Startups not prior to ten
( 1341 )PUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 17, 2020 (BHDR 26, 1942 SAKA) 1342
company (as defined in the Companies
years
Act, 2013) or registered as a partnership
firm (registered under section 59 of the
Partnership Act, 1932) or a limited
liability partnership (under the Limited
Liability Partnership Act, 2008) in India.
• Turnover of the entity for any of the
• The entity's annual turnover does not
financial years since incorporation/
exceed Rs.25 crore, for any preceding
registration has not exceeded one
financial year
hundred crore rupees.
• Entity is working towards innovation,
• The entity is not an extension of the
development or improvement of
existing family business; or formed by
products or processes or services, or if
splitting up or reconstruction of a business
it is a scalable business model with a high
already in existence.
potential of employment generation or
wealth creation.
Provided that an entity formed by splitting
up or reconstruction of an existing business
shall not be considered a 'Startup'.
(iii). Self-Certification for Proof of innovation: (iii) Self-Certification for Proof of innovation:
• DIPP Start-up India recognition • DPIIT Start-up India recognition certificate;
certificate; OR
OR
16.4 Procedure for Processing of Application for Procedure for Processing of Application for Recognition
Provisional Registration
(i) The start-up entity will have to submit its (i) The start-up entity will have to submit its
application online in the Start-up Registration application form ST-A online in the Start-up
Form on the web portal. Registration Form on the web portal.
(ii) The application shall be forwarded to the
(ii) After initial scrutiny of the ST-A form, on
concerned nodal agency.
line Provisional Registration certificate will
(iii) Nodal agency may schedule a call or a be issued.
meeting with the start-up entity, if it deems
necessary. The Nodal agency will then
send its report on the proposal with
recommendations for its acceptance or
rejection.
(iv) All such applications will be collated with
the recommendations of Nodal Agency and
will present to the Start-up Coordination
Committee for consideration and final
approval/ recognition/ certification of Start-
up UnitPUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 17, 2020 (BHDR 26, 1942 SAKA) 1343
Combined Procedure for Registration and
16.5(a) Addition of point (a) under Clause 16.5
availing Financial Assistance
(i) The start-up entity will submit its
application form ST-B for Registration and
SF-Seed Funding financialassistance form,
if the start up opts for availing seed funding
financial assistance, otherwise case will be
processed only for Registration. Other
financial assistance forms like IS-Interest
Subsidy and Start-Lease Rental Subsidy,
which are payable annually subject to the
limit as defined in Industrial and Business
Development Policy 2017, can be filled as
and when accrued at the end of the year as
per procedure defined under 16.5(b).
(ii) After initial scrutiny of all the application
forms and requisite documents by the start-
up cell, it will be forwarded to concerned
nodal agency. Meanwhile Provisional
Registration certificate will be issued.
(iii) The Nodal agency will review the
application forms and assistance forms of
the startup entity and will forward its
recommendations both for Registration as
well as financial assistance (if applied for
by the Start-up) within next 2 weeks of
receipt of such application to the Start-up
Coordination Committee. Nodal agency
may schedule a call or a meeting with the
startup entity, if it deems necessary.
(iv) The recommendations of the nodal agency
will be put up before the Start-up
Coordination Committee.
(v) The Start-up Coordination Committee may
call the applicant for a presentation or any
clarification in relation to either eligible
activity or the cost marked against the
eligible activity, or any of its components.
(vi) After the approval of the Start-up
Coordination Committee w.r.t Registration
of the start-up, Registration certificate will
be issued by the Start-up Cell.
PUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 17, 2020 (BHDR 26, 1942 SAKA) 1344(vii) Start-up Coordination Committee will also
record its recommendations concerning
financial assistance to the start-up, if
applied for, by the Start-up.
(viii)The recommendations of Start-up
Coordination Committee concerning
financial assistance to the start-up will be
put up to the State Level Committee for
considering sanction of fiscal incentives to
the Registered startups.
(ix) Financial sanction with regard to the
concerned financial assistance (seed
funding in this case) will be issued after the
approval by the State Level Committee for
the fiscal incentives to the registered
startups.
(x) All the financial assistance approved by the
State level committee shall be disbursed
according to the procedure defined in the
Detailed Schemes and Operational
Guidelines- 2018.
Procedure for availing assistance by Registered
16.5(b)Procedure for availing assistance
startups
(i) The applicant, once registered, will select
(i) The applicant, once recognised, shall apply the required financial assistance forms, i.e. in the application form specified as perform IS-Interest Subsidy, Start- Lease Rental ST1 on the web portal for availing Subsidy, SF-Seed Funding, for availing assistance for setting of start-up.
financial assistance on the web portal in
respective forms. Financial assistance
forms like IS-Interest Subsidy and Start-
Lease Rental Subsidy, which are payable
annually subject to the limit as defined in
Industrial and Business Development
Policy 2017, can be filled as and when
accrued at the end of the year.
Sr. no.(ii) remains same.
(iii) The Nodal agency will review the application of the startup entity and will share its review within next 2 weeks of receipt of such application. Nodal agency (iii) The Nodal agency will review the application of the startup entity and will share its recommendations within next 2 weeks of receipt of such application. Nodal agency may PUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 17, 2020 (BHDR 26, 1942 SAKA) 1345
Sr. no.(iv) to (vii) remains same.
(viii) Financial sanction with regard to the
(viii) The interest subsidy shall be sanctioned and
concerned financial assistance will be
disbursed according to the procedure
issued after the approval by the State Level
mentioned at clause 13.1. For the lease
Committee for the fiscal incentives to the
rental subsidy, the eligible entrepreneurs
registered startups.
shall submit their applications on the
prescribed Form - Start. For availing seed
funding the eligible start-up will submit their
application on the prescribed Form SF.
Addition of Sr. no. (ix)under Clause
(ix) All the financial assistance approved by the
16.5 (b).
State Level committee shall be disbursed
according to the procedure defined in the
Detailed Schemes and Operational
Guidelines- 2018.
16.6 Sr. No.2 of the Table under heading
2 Lease Rental Yearly on Reimbursement Disbursement Schedule the word
Subsidy submission on actual subject 'Quarterly' has been replaced by 'Yearly'.
of proof of to ceiling.
payment.
ALOK SHEKHAR, IAS
Principal Secretary to Govt. of Punjab, The 14th September, 2020 Department of Industries and Commerce.