9911796707
TMI BlogCentral Interest Subsidy Scheme, 2007X X X X Extracts X X X X X X X X Extracts X X X X ..... r, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura with a view to accelerating industrial development in the region. 1. Short title: This Scheme may be called the Central Interest Subsidy Scheme, 2007. 2. Commencement and duration: It will be effective from the 1st April, 2007 and remain in force upto and inclusive of 31.3.2017. 3 . Applicability: Unless otherwise specified, all new industrial units as well as existing units which go in for substantial expansion and are located anywhere in NER, will be eligible for interest subsidy under this Scheme. The Scheme will also be applicable to the following service sector activities/industries: - II. Service Sector: (iv) Hotels (not below Two Star category), adventure and l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een constructed. (iii) that a firm order has been placed for any plant and machinery required for the industrial unit. (f) Fixed Capital Investment means investment in land, building and plant and machinery. Total fixed capital investment will be assessed as follows: (A) Land : The actual price paid for the land to the extent needed for the purposes of the plant. Charges for the leased land will not be taken into account. (B) Building : Same as in the case of land. Rent of a hired building will not be taken into account. (C) Plant and machinery (for manufacturing sector). (a) In calculating the value of plant and machinery, the cost of plant and machinery as erected at site will be taken into account which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tself or supplied by the factory to other for processing. Physical working capital also includes the stock of materials, fuels stores etc., purchased expressly for re-sale, semi-finished goods and work in progress on account of others and goods made by the factory which are ready for sale at the end of the accounting year. However, it does not include the stock of the materials, fuels, stores etc. supplied by others to the factory for processing. Finished goods processed by others from raw materials supplied by the factory and held by them are included and finished goods processed by the factory from raw materials supplied by others are excluded. (i) Working Capital is the sum total of the physical working capital as defined in para ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ut off point of ₹ 10 lakhs of working capital), the request of working capital should be considered favourably so long as the working capital is not very much above such minimum level. Special norms can also be evolved for inventory and receivables. Working capital below the minimum level may be justified under special circumstances in which the requirement is demonstrably lower, as in the case of ancilliary units in the small scale sector with assured supply of inputs and off-take of output. 7. Designated Agency for disbursement of Subsidy North Eastern Development Financial Corporation (NEDFi), Guwahati shall be the designated agency for disbursement of interest subsidy on the basis of the recommendation of the State Level ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nment/Financial Institution concerned is satisfied that the subsidy or grant to an industrial unit has been obtained by misrepresentation of the essential facts, furnishing of false information or if the unit goes out of production within 2 years after commencement of commercial production or after having availed the subsidy under the scheme, the Central Government/State Government/Financial Institution concerned, may ask the unit to refund the subsidy after giving opportunity to the concerned to be heard. 12. Without taking prior approval of the Ministry of Industry, Department of Industrial Policy Promotion/State Government/Financial Institution concerned, no owner of an industrial unit will be allowed to change the location of the w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ule to the Central Excise Tariff Act, 1985 (5 of 1986). (iii) Plastic carry bags of less than 20 microns as specified by Ministry of Environment and Forests Notification No.S.O. 705(E) dated 02.09.1999 and S.O.698 (E) dated 17.6.2003. (iv) Goods falling under Chapter 27 of the First Schedule to the Central Excise tariff Act, 1985 (5 of 1986) produced by petroleum oil or gas refineries. Value Addition Benefits under NEIIPP, 2007 will not be admissible to goods in respect of which only peripheral activities like preservation during storage, cleaning operations, packing, re-packing, labelling or relabelling, sorting, alteration of retail sale price etc. take place. ANNEXURE-II High Level Committee/Adviso ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
