Tuff Benefit and SHIS

[harkirat singh]

Dear Sir,

We have taken Tuff benefit from Ministry of Textiles. TUFF was granted to our company in 2008-2009. We have purchase indigenous Machines of approx. Rupees 1 crores. We have taken loan from Bank for Rs. 1 crore to purchase of machinery. On this loan, we are paying interest of 13 percent at reducing balance to bank every year, terms loan is for 7 years. From Ministry of Textiles we are getting 5 percent subsidy on interest amount every year i.e., we are getting interest subsidy for the period 01/04/2008 to 31/03/2014.

 

We have also received capital subsidy at the rate of 10 percent of machine cost under TUF Scheme, During the year 2008-09.

Kindly advice can we apply for SHIS for Year 2010-11, 2011-12 & 2012-2013.

 

 

AI Summary

Company Questions Eligibility for Status Holder Incentive Scrip Despite Receiving TUFS Benefits; Seeks Clarification for 2010-2013. A company received benefits under the Technology Upgradation Fund Scheme (TUFS) from the Ministry of Textiles, including a 5% annual interest subsidy on a bank loan for machinery purchased in 2008-2009 and a 10% capital subsidy on the machine cost. The company inquired about eligibility to apply for the Status Holder Incentive Scrip (SHIS) for the years 2010-2013. A respondent asked if the issue had been clarified, indicating ongoing uncertainty or need for further information.