NCLAT: Resolution Plan Approved by Committee of Creditors is Binding on All Stakeholders  ||  NCLAT: In Case of Personal Guarantor, Date of Default Depends on Contract of Guarantee’s Terms  ||  Cal. HC: Cannot Label Regulatory Measures Under GST Act as Violative of Fundamental Right to Trade  ||  Cal. HC: Cannot Label Regulatory Measures Under GST Act as Violative of Fundamental Right to Trade  ||  Gau HC: Genuineness of Credit Recd by Assessee from Share Appli. Money is a Question of Fact Not Law  ||  SC: For Central Excise Tariff Act, Coconut Oil in Small Quantities Classifiable as ‘Edible Oil’  ||  SC: Court Ordering Re-Investigation Against Acquitted Accused Violates Principle of Double Jeopardy  ||  SC Urges Parliament to Secure Right of Survivorship of Tribal Women  ||  SC: NCR States to Form Teams to Monitor Compliance of GRAP Measures  ||  SC: Beneficial Laws for Women are Not Means to Chastise, Threaten the Husband    

Central Government makes amendment in the Government of India Notification No. 6(2)98-DBA-II dated 19th February, 1999- (Ministry of Commerce and Industry) (31 Jan 2023)

MANU/INDP/0003/2023

Commercial

The Central Government hereby makes the following amendment in the Government of India Notification No. 6(2)98-DBA-II dated 19th February, 1999 titled 'Central Interest Subsidy Scheme, 1997'. The amendment shall come to effect from 18.06.2014.

2. W.e.f. 18.06.2014 clause 5 of the extent of admissible subsidy shall be read as under:

"5. Extent of admissible subsidy."

For new units: all eligible industrial units located anywhere in the North East Region shall be given an interest subsidy to the extent of 3% on the working capital advanced to them by the Scheduled Banks or Central State financial institutions for a maximum period of 10 (ten) years from the date of commencement of commercial production.

For existing units undergoing substantial expansion: the quantum of interest subsidy eligible in the case of an existing industrial unit which has gone for substantial expansion will be 3% of the increase in working capital loan over and above the average of the working capital loan availed by the industrial unit during two financial years just preceding the date of commencement of commercial operation after undergoing substantial expansion".

However, similar interest subsidy claims that have already been considered/recommended by the SLC need not be reopened.

For the removal of doubts/for the sake of clarity, the methodology for calculation as appended/enunciated in the letter/circular dated 18.06.2014 shall prevail.

Tags : AMENDMENT   NOTIFICATION   SUBSIDY SCHEME  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved