Lakshadweep and Andaman & Nicobar Islands Industrial Development Scheme, (LANIDS) 2018 for industrial units in Lakshadweep and Andaman & Nicobar Islands.
In pursuance of the decision taken by the Standing Finance Committee (SFC) in its meeting held on 21.12.2018, the Government of India has notified the “Lakshadweep and Andaman & Nicobar Islands Industrial Development Scheme, (LANIDS) 2018 for industrial units in Lakshadweep and Andaman & Nicobar Islands.
The scheme is called “Lakshadweep and Andaman & Nicobar Islands Industrial Development Scheme, (LANIDS) 2018” and it will cover Union Territories of “Lakshadweep” and “Andaman & Nicobar Islands”.
The Scheme will be effective from 01.04.2018 and will remain in force up to 31.03.2020 with committed liabilities accrued up to 31st March 2025 for units registered up to 31.03.2020.
All new industrial units and existing industrial units undertaking substantial expansion in manufacturing and services sectors located in the Lakshadweep and Andaman & Nicobar Islands, will be eligible for incentives under the scheme.
However, the following industries included in the Negative List will not be eligible for benefits under LANIDS 2018:
(i) All goods falling under Chapter 24 of the First Schedule to the Central Excise Tariff Act, 1985 which pertains to tobacco and manufactured tobacco substitutes.
(ii) Pan Masala as covered under Chapter 21 of the First Schedule to the Central Excise Tariff Act, 1985
(iii) Plastic carry bags of less than 20 micron as specified by Ministry of Environment and Forests Notification No. S.O. 705 (E) dated 02.09.1999 and S.O. 698 (E) dated 17.6.2003.
(iv) Goods falling under Chapter 27 of the First Schedule to the Central Excise Tariff Act, 1985 produced by Petroleum or Gas refineries.
(v) Plantation, Refineries and Power generating Units above 10 MW.
(vi) Coke (including Calcined Petroleum Coke), Fly Ash, Cement, Steel Rolling Mills.
(vii) Units not complying with environment standards or not having applicable Environmental Clearance from M/o Environment & Forests and Climate Change or State Environmental Impact Assessments Authority (SEIAA) or not having requisite consent to establish and operate from the concerned Central Pollution Control Board/State Pollution Control Board also will not be eligible for incentive under the scheme.
(viii) Low value addition activities like preservation during storage, cleaning, operations, packing, repacking or relabelling, sorting, alteration of retail sale price etc. take place excluding high value packaging and processing.
(ix) Any other industry/activity placed in negative list through a separate notification as and when considered necessary by the Government. It will be effective from the date of such notification.
(x) Gold and gold dore.
All eligible industrial units will be entitled to benefits under one or more components of this scheme, even if such units are getting benefits under other schemes of the Government of India. However, it shall be ensured that there is no duplicacy in the reimbursement of the same claims under different schemes.
The total benefits from all components of the scheme put together shall be limited to the total investment in plant and machinery, subject to a maximum limit of Rs. 200.00 crore per unit. Plant and Machinery for the service sector industrial units shall include cost of construction of building and all other durable physical assets basic to the running of that particular service industry, but shall exclude cost of land and consumables, disposables or any other item charged to revenue.
All eligible industrial units will be required to fulfil the following conditions:-
(a) it is not formed by splitting up, or reconstruction of a business already in existence.
(b) it is not formed by transfer to the new unit of plant or machinery previously used for any other purpose.
(c) it has not relocated from elsewhere and/or is not an existing unit reopened under a new name and style.
The following incentives will be provided to eligible industrial units on reimbursement basis:
1. Central Capital Investment Incentive for access to credit (CCIIAC)
2. Central Interest Incentive (CII)
3. Central Comprehensive Insurance Incentive (CCII)
4. Goods and Services Tax (GST) Reimbursement
5. Income Tax (IT) Reimbursement
6. Transport Incentive (TI); and
7. Employment Incentive (EI)
The Scheme requires that all eligible industrial units would have to register under the Scheme with Ministry of Home Affairs, Govt. of India, through the portal prior to being eligible for any benefit under this scheme. In this regard, an online application process shall be developed under which the applicants have to submit applications along with the DPR.
The MHA would separately issue detailed instructions for the use of online portal for LANIDS and registration of eligible units.
When prior period expenses are not admissible as deduction, following the same principle the prior period income also cannot be…
Supreme Court condoned delay of 972 days in filing appeal due to restructuring in Income Tax Department In a recent…
Addition can not be made relying on the valuation report of property when the stamp duty valuation is also available…
Wrong claim of deduction u/s 54F/54B was not a case of concealment of particulars of income or furnishing inaccurate particulars…
CBIC notifies GST rates and value of taxable supply for Biris, Pan Masala / tobacco products Ministry of Finance(Department of…
CBIC has issued a Standard Operating Procedure (SoP) for wearing Body Cam by Custom officers responsible for Baggage Clearance According…