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Subsidy - New opportunites for chartered accountant

S
Swati Gupta

The document discusses various government schemes to support businesses in India, including capital subsidies, interest subsidies, and tax subsidies. It provides details on 10 different capital subsidy schemes for small and medium enterprises focused on industries like textiles, handlooms, food processing, etc. It also outlines 7 interest subsidy schemes under the Technology Upgradation Fund Scheme (TUFS) for textiles, technical textiles, and other industries. Other subsidies and exemptions discussed include power tariff subsidies, VAT refunds, and electric duty exemptions for spinning and weaving units. The document emphasizes exploring all available schemes and following application procedures carefully to maximize benefits for clients.

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Being Consultant ofVarious Government Schemes ASKS & Associates, Chartered Accountants
1. Expand existing Business as well as establish new business 2. Support in Opportunity Capitalization 3. Acquire NewTechnology 4. Improve the quality of products 5. Adopting a latest technology available in Current Market 6. Support in onslaught attack fromother competitive Market / Countries 7. ManufactureWorld Class Products byTechnology Upgradation 8. Increase Export Business 9. Attract Global Market 10. Employment Generation ASKS & Associates, Chartered Accountants
1. Cash Subsidy: Providing food or fertilizer to consumer at lower price. 2. Interest or credit subsidies 3.Tax subsidies 4. In kind subsidies 5. Procurement subsidies 6. Regulatory subsidy ASKS & Associates, Chartered Accountants
1. Capital Subsidy to SSI Unit (15% CLCSS) Various Industries 2. Capital Subsidy to SSI Unit (15%TUFS) Textile and Jute Industries 3. Capital Subsidy to SSI Unit (30%TUFS) Weaving Sector 4. Capital Subsidy to SSI Unit (25%TUFS) Handloom Sector 5. 2% Interest Subsidy underTUFS Spinning Unit 6. 5% Interest Subsidy underTUFS Any Textile (other than S.R. No. 5 and 7) and Jute Unit 7. 6% Interest Subsidy underTUFS Weaving 8. 10% Capital Subsidy underTUFS Specific Sector ofTextile 9. Capital Subsidy (25% or 33%) - MOFPI Food Processing Industries 10.Many More Schemes are available to Industries ASKS & Associates, Chartered Accountants
Capital Subsidy to SSI Unit (15% CLCSS) Various Industries Any New Unit or Expansion within SSI Limit of Rs. 5.00 Crore Maximum Capital Subsidy of Rs. 15.00 Lakhs Unit in production upto 3 years Minimum Repayment Period 3 years Application should be done as soon as disbursement complete ASKS & Associates, Chartered Accountants
Capital Subsidy to SSI Unit (15%TUFS) Textile & Jute Industries Subsidy in lieu of 5% Interest Subsidy Any New Unit or Expansion within SSI Limit of Rs. 5.00 Crore MaximumCapital Subsidy of Rs. 75.00 Lakhs Unit in production upto 3 years Minimum Repayment Period 3 years Subsidy should be apply on sanction ASKS & Associates, Chartered Accountants
Capital Subsidy to SSI Unit (30%TUFS) Weaving Sector Subsidy in lieu of 5% Interest Subsidy Any New Unit or Expansion within SSI Limit of Rs. 5.00 Crore Max. Capital Subsidy of Rs. 1.50 Crore (In case of New Machine Imported as well as Indigenous) In case of Indigenous Manufacturer, it should be registered with Office of Textile Commissioner, Mumbai Unit in production upto 3 years Minimum Repayment Period 3 years Subsidy should be applied on completion of project ASKS & Associates, Chartered Accountants
Capital Subsidy to SSI Unit (30%TUFS) Handloom Sector Subsidy in lieu of 5% Interest Subsidy Any New Unit or Expansion within SSI Limit of Rs. 5.00 Crore Maximum Capital Subsidy of Rs. 45.00 Lakhs Minimum Repayment Period 3 years Subsidy should be apply on sanction Unit should be register with respective authority ASKS & Associates, Chartered Accountants
2% Interest Subsidy underTUFS Spinning Unit Any Stand alone Spinning Unit Any New Unit / Replacement or Modernization 2% Interest Subsidy to Stand alone Spinning Unit No Upper Limit for Subsidy Subsidy available upto 7 years incld. Maximum 2 year Moratorium period ASKS & Associates, Chartered Accountants
5% Interest Subsidy underTUFS AnyTextile and Jute Unit Any New Unit or Expansion 5% Interest Subsidy to all other sector No Upper Limit for Subsidy Subsidy available upto 7 years incld. Maximum 2 year Moratorium period ASKS & Associates, Chartered Accountants
6% Interest Subsidy under TUFS AnyWeaving Unit Any New Unit or Expansion 6% Interest Subsidy to any weaving units No Upper Limit for Subsidy Subsidy available upto 7 years incld. Maximum 2 year Moratorium period ASKS & Associates, Chartered Accountants
10% Capital Subsidy underTUFS Specific Sector Any New Unit or Expansion TechnicalTextile / ReadymadeGarment / Processing /Weaving Sector No Upper Limit for Subsidy Addition of 5% Interest Subsidy In case ofTechnicalTextile Unit, Registration Number from Office of Textile Commissioner, Mumbai should be obtained ASKS & Associates, Chartered Accountants
1. Interest Subsidy (5%/6%/7%/8%) Any New or Expansion Upto MSI 2. Interest Subsidy (5%) AnyTextile and Jute Industries 3. Interest Subsidy (6%) Technical Textile and Non-woven 4. Interest Subsidy (7%) GTP-12 Spinning and Apparel Unit 5. Interest Subsidy (5%) GTP-12 AnyTextile, Processing and Jute Industries 6. Interest Subsidy (6%) GTP-12 TechnicalTextile and Non-woven 7. Marketing Development Assist. Marketing of New Products 8. Critical Infrastructure Project Development of Industrial Infrastructure 9. Technology Acquisition NewTechnology Acquisition in India 10.Interest Subsidy (6%) Agriculture Product Manufacturer 11.Electric Duty Exemption New Unit or Expansion 12.PowerTariff Subsidy - Spinning and Weaving Unit 13.VAT Refund - Spinning and Weaving Unit ASKS & Associates Chartered Accountants
Interest Subsidy (7%) Spinning and Apparel Unit Any new industrial undertaking Any Expansion / Modernization / Diversification Unit should be in cotton spinning only 2nd Hand Machine is allowed spinning within specific criteria Benefit is available upto 5 years Only There is no upper ceiling for Interest Subsidy Unit should be in operation for Minimum 10 years from Commercial Production Partly or Fully benefits is available with Industrial Policy - 2009 ASKS & Associates, Chartered Accountants
Interest Subsidy (5%)Other than Spinning, Apparel &TechnicalTextile Any new industrial undertaking Any Expansion / Modernization / Diversification Benefit is available upto 5 years Only There is no upper ceiling for Interest Subsidy Unit should be in operation for Minimum 10 years from Commercial Production Synthetics FilamentYarn Manufacturing Unit are not allowed Partly or Fully benefits is available with Industrial Policy - 2009 ASKS & Associates, Chartered Accountants
Interest Subsidy (6%)TechnicalTextile and Non-woven Any new industrial undertaking Any Expansion / Modernization / Diversification Benefit is available upto 5 years Only There is no upper ceiling for Interest Subsidy Unit should be in operation for Minimum 10 years from Commercial Production Partly or Fully benefits is available with Industrial Policy - 2009 ASKS & Associates, Chartered Accountants
PowerTariff Subsidy ( R 1/-) Spinning and Weaving Unit Any new industrial undertaking Any Expansion / Modernization / Diversification Benefit is available upto 5 years Only PowerTariff Subsidy @ 1/- per unit In case of expansion / modernisation, demarcation must be required of power use. Unit should be in operation for Minimum 10 years from Commercial Production ASKS & Associates, Chartered Accountants
VAT Refund Spinning and Weaving Unit Any new industrial undertaking Any Expansion / Modernization / Diversification Benefit is available upto 5 years Only VAT refund on purchase of Raw Material as per ACT In case of expansion / modernisation, VAT refund will be allowed on new investment Refund will be given upto 8 years to tune of cost of new investment Unit should be in operation for Minimum 10 years from Commercial Production ASKS & Associates, Chartered Accountants
Visit website of different ministries and get thorough knowledge of scheme to give your client maximum benefit. For eg. www.txcinda.gov.in, www.mofpi.nic.in etc Read all criteria's/conditions that are to be fulfill for receiving grants. Provide details to client and manage their work accordingly. Follow check list provided by ministry for applying for subsidy claim. Proper follow up of implementing agencies. ASKS & Associates, Chartered Accountants
EXPLORETHIS OPPORTUNITY Thanks!!! ASKS & Associates, Chartered Accountants Surat. M. No. +91 90331 37457 E-mail: asksassociates@gmail.com

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Subsidy - New opportunites for chartered accountant

  • 1. Being Consultant ofVarious Government Schemes ASKS & Associates, Chartered Accountants
  • 2. 1. Expand existing Business as well as establish new business 2. Support in Opportunity Capitalization 3. Acquire NewTechnology 4. Improve the quality of products 5. Adopting a latest technology available in Current Market 6. Support in onslaught attack fromother competitive Market / Countries 7. ManufactureWorld Class Products byTechnology Upgradation 8. Increase Export Business 9. Attract Global Market 10. Employment Generation ASKS & Associates, Chartered Accountants
  • 3. 1. Cash Subsidy: Providing food or fertilizer to consumer at lower price. 2. Interest or credit subsidies 3.Tax subsidies 4. In kind subsidies 5. Procurement subsidies 6. Regulatory subsidy ASKS & Associates, Chartered Accountants
  • 4. 1. Capital Subsidy to SSI Unit (15% CLCSS) Various Industries 2. Capital Subsidy to SSI Unit (15%TUFS) Textile and Jute Industries 3. Capital Subsidy to SSI Unit (30%TUFS) Weaving Sector 4. Capital Subsidy to SSI Unit (25%TUFS) Handloom Sector 5. 2% Interest Subsidy underTUFS Spinning Unit 6. 5% Interest Subsidy underTUFS Any Textile (other than S.R. No. 5 and 7) and Jute Unit 7. 6% Interest Subsidy underTUFS Weaving 8. 10% Capital Subsidy underTUFS Specific Sector ofTextile 9. Capital Subsidy (25% or 33%) - MOFPI Food Processing Industries 10.Many More Schemes are available to Industries ASKS & Associates, Chartered Accountants
  • 5. Capital Subsidy to SSI Unit (15% CLCSS) Various Industries Any New Unit or Expansion within SSI Limit of Rs. 5.00 Crore Maximum Capital Subsidy of Rs. 15.00 Lakhs Unit in production upto 3 years Minimum Repayment Period 3 years Application should be done as soon as disbursement complete ASKS & Associates, Chartered Accountants
  • 6. Capital Subsidy to SSI Unit (15%TUFS) Textile & Jute Industries Subsidy in lieu of 5% Interest Subsidy Any New Unit or Expansion within SSI Limit of Rs. 5.00 Crore MaximumCapital Subsidy of Rs. 75.00 Lakhs Unit in production upto 3 years Minimum Repayment Period 3 years Subsidy should be apply on sanction ASKS & Associates, Chartered Accountants
  • 7. Capital Subsidy to SSI Unit (30%TUFS) Weaving Sector Subsidy in lieu of 5% Interest Subsidy Any New Unit or Expansion within SSI Limit of Rs. 5.00 Crore Max. Capital Subsidy of Rs. 1.50 Crore (In case of New Machine Imported as well as Indigenous) In case of Indigenous Manufacturer, it should be registered with Office of Textile Commissioner, Mumbai Unit in production upto 3 years Minimum Repayment Period 3 years Subsidy should be applied on completion of project ASKS & Associates, Chartered Accountants
  • 8. Capital Subsidy to SSI Unit (30%TUFS) Handloom Sector Subsidy in lieu of 5% Interest Subsidy Any New Unit or Expansion within SSI Limit of Rs. 5.00 Crore Maximum Capital Subsidy of Rs. 45.00 Lakhs Minimum Repayment Period 3 years Subsidy should be apply on sanction Unit should be register with respective authority ASKS & Associates, Chartered Accountants
  • 9. 2% Interest Subsidy underTUFS Spinning Unit Any Stand alone Spinning Unit Any New Unit / Replacement or Modernization 2% Interest Subsidy to Stand alone Spinning Unit No Upper Limit for Subsidy Subsidy available upto 7 years incld. Maximum 2 year Moratorium period ASKS & Associates, Chartered Accountants
  • 10. 5% Interest Subsidy underTUFS AnyTextile and Jute Unit Any New Unit or Expansion 5% Interest Subsidy to all other sector No Upper Limit for Subsidy Subsidy available upto 7 years incld. Maximum 2 year Moratorium period ASKS & Associates, Chartered Accountants
  • 11. 6% Interest Subsidy under TUFS AnyWeaving Unit Any New Unit or Expansion 6% Interest Subsidy to any weaving units No Upper Limit for Subsidy Subsidy available upto 7 years incld. Maximum 2 year Moratorium period ASKS & Associates, Chartered Accountants
  • 12. 10% Capital Subsidy underTUFS Specific Sector Any New Unit or Expansion TechnicalTextile / ReadymadeGarment / Processing /Weaving Sector No Upper Limit for Subsidy Addition of 5% Interest Subsidy In case ofTechnicalTextile Unit, Registration Number from Office of Textile Commissioner, Mumbai should be obtained ASKS & Associates, Chartered Accountants
  • 13. 1. Interest Subsidy (5%/6%/7%/8%) Any New or Expansion Upto MSI 2. Interest Subsidy (5%) AnyTextile and Jute Industries 3. Interest Subsidy (6%) Technical Textile and Non-woven 4. Interest Subsidy (7%) GTP-12 Spinning and Apparel Unit 5. Interest Subsidy (5%) GTP-12 AnyTextile, Processing and Jute Industries 6. Interest Subsidy (6%) GTP-12 TechnicalTextile and Non-woven 7. Marketing Development Assist. Marketing of New Products 8. Critical Infrastructure Project Development of Industrial Infrastructure 9. Technology Acquisition NewTechnology Acquisition in India 10.Interest Subsidy (6%) Agriculture Product Manufacturer 11.Electric Duty Exemption New Unit or Expansion 12.PowerTariff Subsidy - Spinning and Weaving Unit 13.VAT Refund - Spinning and Weaving Unit ASKS & Associates Chartered Accountants
  • 14. Interest Subsidy (7%) Spinning and Apparel Unit Any new industrial undertaking Any Expansion / Modernization / Diversification Unit should be in cotton spinning only 2nd Hand Machine is allowed spinning within specific criteria Benefit is available upto 5 years Only There is no upper ceiling for Interest Subsidy Unit should be in operation for Minimum 10 years from Commercial Production Partly or Fully benefits is available with Industrial Policy - 2009 ASKS & Associates, Chartered Accountants
  • 15. Interest Subsidy (5%)Other than Spinning, Apparel &TechnicalTextile Any new industrial undertaking Any Expansion / Modernization / Diversification Benefit is available upto 5 years Only There is no upper ceiling for Interest Subsidy Unit should be in operation for Minimum 10 years from Commercial Production Synthetics FilamentYarn Manufacturing Unit are not allowed Partly or Fully benefits is available with Industrial Policy - 2009 ASKS & Associates, Chartered Accountants
  • 16. Interest Subsidy (6%)TechnicalTextile and Non-woven Any new industrial undertaking Any Expansion / Modernization / Diversification Benefit is available upto 5 years Only There is no upper ceiling for Interest Subsidy Unit should be in operation for Minimum 10 years from Commercial Production Partly or Fully benefits is available with Industrial Policy - 2009 ASKS & Associates, Chartered Accountants
  • 17. PowerTariff Subsidy ( R 1/-) Spinning and Weaving Unit Any new industrial undertaking Any Expansion / Modernization / Diversification Benefit is available upto 5 years Only PowerTariff Subsidy @ 1/- per unit In case of expansion / modernisation, demarcation must be required of power use. Unit should be in operation for Minimum 10 years from Commercial Production ASKS & Associates, Chartered Accountants
  • 18. VAT Refund Spinning and Weaving Unit Any new industrial undertaking Any Expansion / Modernization / Diversification Benefit is available upto 5 years Only VAT refund on purchase of Raw Material as per ACT In case of expansion / modernisation, VAT refund will be allowed on new investment Refund will be given upto 8 years to tune of cost of new investment Unit should be in operation for Minimum 10 years from Commercial Production ASKS & Associates, Chartered Accountants
  • 19. Visit website of different ministries and get thorough knowledge of scheme to give your client maximum benefit. For eg. www.txcinda.gov.in, www.mofpi.nic.in etc Read all criteria's/conditions that are to be fulfill for receiving grants. Provide details to client and manage their work accordingly. Follow check list provided by ministry for applying for subsidy claim. Proper follow up of implementing agencies. ASKS & Associates, Chartered Accountants
  • 20. EXPLORETHIS OPPORTUNITY Thanks!!! ASKS & Associates, Chartered Accountants Surat. M. No. +91 90331 37457 E-mail: asksassociates@gmail.com