TaxTMI 
TaxTMI 
Central Capital Investment Subsidy Scheme, 2007
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....ssam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura with a view to accelerating the industrial development in the NER. 1. Short Title:-This Scheme may be called the 'Central Capital Investment Subsidy Scheme, 2007'. 2. Commencement and duration: - It will come into effect 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 capital investment subsidy under this Scheme. The Scheme will also be applicable to the following service sector activities/industries: - I. Service Sector: (i) Hotels (not below Two Star ca....
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....as been 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 'plant and machinery', for the purpose of this scheme. 5. Extent of admissible Subsidy All eligible industrial units located anywhere in the North Eastern Region shall be given capital investment subsidy at the rate of 30% of their investment in Plant and Machinery or additional investment in Plant and Machinery. Such subsidy will be applicable to units in the private sector, joint sector, cooperative sector as well as the units set up by the State Governments concerned of the North Eastern Region. The limit for automatic approval of subsidy at this rate would be ....
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....designated nodal agency for disbursement of capital investment subsidy under the Scheme on the basis of the recommendation of State Level Committee (SLC) of the concerned State Government, the Empowered Committee and the Union Cabinet, as the case may be. 8. Procedure for claiming capital investment subsidy 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 new industrial units or undertaking substantial expansion of existing units and to indicate their assessment of the total new or additional fixed capital likely to be invested by them in the plant and machinery. 9. Procedure for disbursement of ....
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.... entrepreneur's furnishing a proof of having taken effective steps to the satisfaction of State Director of Industries and the remaining amount be released only after the unit goes into production. 11. In respect of an industrial unit assisted/ to be assisted by a Financial Institution or the State Government concerned, the subsidy will be disbursed to the unit by NEDFI on the recommendation of the State Government concerned, the Empowered Committee and the Union Cabinet, as the case may be. However, in such cases, the contract/agreement to be drawn up between the Financial Institution/ State Government and the unit concerned, may cover mortgage, pledge, hypothecation of the assets upto the amount of the subsidy payable/paid to the units. ....
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....Fi, certificate of utilisation of the subsidy for the purpose for which it was given shall be furnished to the Central Ministry of Industry (Department of Industrial Policy and Promotion) by the financial institution/State Government concerned, within a period of one year from the date of receipt of the last instalment/full amount. 15. After receiving the subsidy, each industrial unit shall submit Annual Progress Report (APR) to the Union Ministry of Industry (Department of Industrial Policy and Promotion)/ State Government concerned, about its working for a period of 5 years after going into production. 16. A High Level Monitoring Committee has been set up as in Annexure-III which would monitor implementation of the Scheme. (N.N.Prasad)....
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....ber (v) Secretary of the concerned Ministry/ Department of Government of India dealing with the subject matter pertaining to the proposal under consideration of the Empowered Committee. … Member (vi) Chief Secretary/ Secretary (Industry) of the concerned North East State where the claiming unit is located/ proposed to be located. … Member (vii) Chairman-cum-Managing Director, North Eastern Development Finance Corporation (NEDFi), Guwahati. … Member (viii) Joint Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India. … Member Secretary ANNEXURE-III High Level Committee/Advisory Committee (i) Secretary, Department of Industrial....