Investment4 Dec 2024, 10:30 pm
Gallantt Ispat Ltd. Receives Rs. 80.45 Crores Subsidy/Incentives Reimbursement
AI Summary
Gallantt Ispat Ltd. has received a total of Rs. 80.45 Crores as reimbursement of subsidies/incentives from two state governments. The company was reimbursed Rs. 14.49 Crores by the State Government of Gujarat and Rs. 65.96 Crores by the State Government of Uttar Pradesh. These reimbursements were made against the payment of State Goods and Services Tax (SGST) paid by the company under their respective industrial promotion policies.
Key Highlights
- Gallantt Ispat Ltd. received a total of Rs. 80.45 Crores as reimbursement of subsidies/incentives.
- Rs. 14.49 Crores were reimbursed by the State Government of Gujarat under the Gujarat Industrial Policy 2015.
- Rs. 65.96 Crores were reimbursed by the State Government of Uttar Pradesh under the Infrastructure and Industrial Investment Policy — 2017.
- Reimbursements were made against the payment of State Goods and Services Tax (SGST) paid by the company.
- This investment is expected to boost the company's manufacturing units in Gujarat and Uttar Pradesh.