Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

Central Interest Subsidy Scheme, 2007

Indian Laws - No.10(3)/2007-DBA-II/ NER - Dated:- 27-7-2007 - MINISTRY OF COMMERCE & INDUSTRY (Department of Industrial Policy and Promotion) NOTIFICATION New Delhi, the 27th July, 2007 No.10(3)/2007-DBA-II/ NER- In pursuance of the North Eastern Industrial and Investment Promotion Policy, 2007(NEIIPP, 2007) issued by Ministry of Commerce and Industry vide O.M. No.10(3)/2007-DBA-II/NER, dated the 1st April, 2007, the Government of India is pleased to make the following Scheme of interest sub .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

trial 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 leisure sports including ropeways ; (v) Medical and health services in the nature of nursing homes with a minimum capacity of 25 beds and old-age homes ; (vi) Vocati .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ny industrial undertaking, suitable servicing unit other than that run departmentally by Government. (b) New industrial unit means an industrial unit for the setting up of which effective steps were not taken prior to 1.4.2007. (c) Existing Industrial Unit means an industrial unit set-up prior to the operative date of the scheme i.e.1.4.2007. (d) Substantial expansion means increase in the value of fixed capital investment in plant and machinery of an industrial unit by not less than 25 % for th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ment 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 will include the cos .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ciated value of fixed assets owned by the factory on the closing day of the accounting year. Fixed assets are those which have a normal productive life of more than one year. Fixed capital covers all types of assets, new or used or own constructed, deployed for production, transportation, living or recreational facilities, hospitals, schools etc. for factory personnel. It includes the fixed assets of the head office allocable to the factory and also the full value of assets taken on hire purchas .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

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 factor .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ed assets, loans and advances by proprietors and partners irrespective of their purpose and duration, longterm loans including interest thereon and investments. [Note: Definition of Plant and Machinery and other components which could be taken into account for the purpose of this Scheme in respect of Service Sector, Bio-Technology industry & Power Generating industries referred to in para 3 (I, II & III) would be notified separately] 5. Extent of admissible subsidy: All eligible industri .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

may be applied , if necessary, after providing for aforesaid minimum level. In respect of such units for which norms have not been laid down/are not applicable (due to the units coming below the cut 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 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e for claiming interest subsidy: New industrial units eligible for subsidy under the Scheme will be required to get themselves registered with the State Industry Department concerned prior to taking effective steps for setting up. Similarly, existing industrial units undertaking substantial expansion should also get themselves registered with the State Industry Department prior to such expansion. All the units, whether new or existing would be required to indicate their assessment of the total n .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

decide whether the unit qualifies for the grant of interest subsidy under the scheme and also about the quantum of eligible subsidy under the scheme. (10) The subsidy will be disbursed to the industrial unit by NEDFi on the recommendation of the State Level Committee of the State Government concerned. 11. Rights of the Centre/State Government/Financial Institutions: If the Central government/State Government/Financial Institution concerned is satisfied that the subsidy or grant to an industrial .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

trial Policy & Promotion/State Government/Financial Institution concerned, no owner of an industrial unit will be allowed to change the location of the whole or any part of the industrial unit or effect any substantial contraction or dispose of a substantial part of its total fixed capital investment within a period of 2 years of receiving a part or the whole of the subsidy under the scheme. 13. In respect of all units to whom the grant or subsidy is disbursed by the NEDFi/State Government, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ion/State Government concerned, about its working for a period of 5 years after going into production. 15. A High Level Monitoring Committee has been set up as in Annexure-II which would monitor implementation of the Scheme. (N.N.Prasad) Joint Secretary ANNEXURE-I Negative List: The following industries will not be eligible for benefits under NEIIPP, 2007:- (i) All goods falling under Chapter 24 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) which pertains to tobacco an .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version