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[vc_row][vc_column][vc_custom_heading text=”Subsidy/ Incentives under NEIIPP/NEIDS Scheme” font_container=”tag:h2|font_size:2.75em|text_align:left|line_height:42px” use_theme_fonts=”yes” el_class=”pb-2 mb-4″][vc_column_text]

To promote industrialization in NE States and to boost employment and income generation, a new Scheme namely North East Industrial Development Scheme (NEIDS), 2017 has been notified on 12.04.2018 which has come into force w.e.f. 01.04.2017 for a period of five years till 31.03.2022 (after closure of NEIIPP, 2007 on 31.03.2017). The scheme covers manufacturing and service sector. It will give encouragement to MSME in manufacturing, services. Information technology is leveraged to process and approve proposals and release of payment.

North East Industrial and Investment Promotion Policy (NEIIPP), 2007 was notified for a period of 10 years from 1.4.2007 to 31.03.2017 with the purpose to boost industrialization of the region. This policy was effective up to 31.03.2017 but units that commenced commercial production by 31.3.2017 shall continue to receive benefits beyond this date up to the committed number of years for each unit.

Various benefits provided under the Scheme are as under:
1. Central Capital Investment Incentive for access to credit (CCIIAC) – 30% of investment in Plant & Machinery.
2. Central Interest Incentive(CII) – 3% of the working capital credit for first 5 years.
3. Central Comprehensive Insurance Incentive(CCII) – Reimbursement of 100% insurance premium on insurance of building and Plant & Machinery for 5 years.
4. Income Tax Reimbursement (IT) – Reimbursement of Centre’s share of income tax for first 5 years.
5. Goods and Services Tax(GST) Reimbursement – Reimbursement up to the extent of Central Govt. share of CGST and IGST for 5 Years.
6. Employment Incentive(EI) – Additional 3.67% of the employer’s contribution to Employees’ Provident Fund (EPF) in addition to Government bearing 8.33% Employee Pension Scheme (EPS) contribution of the employer in the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY).
7. Transport Incentive(TI) – 20%/33% of the cost of transportation provided by
a. 20% for movement of finished goods by rail
b. 20% for movement of finished goods by Inland Waterways Authority of India
c. 33% for movement on perishable goods by Air

Our firm has expertise in performing the following functions E2E w.r.t. the financial incentives eligible to the units :
• Documentation & Preparation of claims.
• Processing of claims at all levels of District, State, Central and Ministerial levels.
• Liasioning and Auditing the claims at various levels both at Pre and Post sanction/disbursement of claims.[/vc_column_text][/vc_column][/vc_row]

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