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ABSTRACT GOVERNMENT OF TAMIL NADU Industries – Capital subsidy to New Industrial Units and New Units located in Government promoted industrial parks and approved private industrial parks in terms of the Tamil Nadu New Industrial Policy, 2003 – Orders – Issued. INDUSTRIES (MIF.I) DEPARTMENT G.O.Ms.No.58 Read: G.O.Ms.No.43, Industries, dated 13.12.1992. ---- ORDER: In the Tamil Nadu New Industrial Policy, 2003 it has been announced that incentives and subsidies will be restructured in tune with the focus laid on investments to promote infrastructure and common facilities. Accordingly, the Government pass the following orders with effect from 16.9.2003: (1) In supersession of the earlier orders issued in the G.O. read above sanction of capital subsidy, incentives to all new units investing in eligible fixed assets are restructured as follows:- (a) Rupees 50 crores and above and below Rupees 100 crores will be eligible for a capital subsidy of Rupees 25 lakhs. (b) Rupees 100 crores and above and below 200 crores will be eligible for a capital subsidy of Rupees 50 lakhs. (c) Rupees 200 crores and above will be eligible for a capital subsidy of Rupees 1 crore. The subsidy will be payable after commencement of commercial operation of the new units. New units located in the Government promoted industrial parks will be eligible for 150% of the above standard capital subsidy. (2) A back-ended subsidy claim of 10% of the investment made in approved private industrial parks irrespective of location will be allowed subject to a maximum of Rupees 1 (one) crore and also subject to the location of 50 units or more and provision of employment to atleast 2500 persons. (3) A critical infrastructure subsidy of 25% of capital cost or Rupees 25 lakhs, (whichever is lower) will be allowed for setting up Effluent Treatment Plants / Waste Disposal Sites. (4) After 1.1.2004, a One time reimbursement for patent registration up to 50% of the expenses or Rupees One lakh (whichever is lower) will be given to any production unit in Tamil Nadu. (5) The Government will at its discretion offer specific packages to single investments exceeding Rupees 300 Crores made in eligible fixed assets within a period of not more than 3 years from date of project approval. 2. The existing norms and guidelines for sanction of Capital subsidy will be applicable in full to the scheme ordered in paragraph 1 above. The Government in Industries Department will be the Nodal Department at the Secretariat level and Tamil Nadu Industrial Investment Corporation Limited (TIIC) will be the Financial Agency of the Government for implementing the scheme. 3. This order issues with the concurrence of the Finance Department vide its U.O.No.2087/FS/P/04 dated 12.7.2004. (BY ORDER OF THE GOVERNOR) RAMESHRAM
MISHRA To
The Managing Director, TIIC., Chennai-600035. The Industries Commissioner & Director of Industries and Commerce, Chepauk, Chennai-5. The Accountant General, Chennai-18. The Accountant General, Chennai-18 (by name)
Copy to:
The Chairman and Managing Director, SIPCOT., Egmore, Chennai-8. The Finance Department, Chennai-9. The Small Industries Department, Chennai-9. All Sections in Industries Department, Chennai-9. The Industries (IT) Department, Chennai-9. (for hosting in Govt.website) (2 copies) The Industries (OP.II) Department, Chennai-9. Sf/Sc.
/FORWARDED/BY ORDER/ SECTION OFFICER
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