Package Scheme of Incentives, 2019 · 2019. 8. 11. · Nagpur 9822572295. PSI-2019 ... Procedure for Application & Claim for Eligibility ... • The unit shall obtain a separate registration

Package Scheme of Incentives- 2019(GR No.PSI-2019/CR46/IND-8- Dtd:16.09.2019)

CA. NITIN AGRAWAL

(Partner)

Gupta Sarda & Bagdia

Chartered Accountants

Nagpur

9822572295

PSI-2019

• In order to encourage the dispersal of industries to lesserdeveloped areas of the State, the govt. has been giving packagescheme of incentives to New/Expansion/Diversification unitssince 1964 under a scheme popularly known as “Package Schemeof Incentives”.

• The PSI, introduced in 1964, has been amended from time totime. The Scheme as amended last was PSI-2013 and wasoperative from 1st April 2013 till 31st march 2019.

• The State government with an objective:

- To provide global competitive edge to the industries in the state

- for Accelerated industrial growth & sustainable development

- To create additional employment opportunities to local persons

- and Emphasis on balanced regional development

has introduced new Package Scheme of Incentives-2019.

Period of operation of PSI-2019

From 1st April 2019 up to 31st March 2024

or

till the new Package Scheme of Incentives comes into force.

The following categories of eligible industrial units in Private Sector, Cooperative

Sector, State Public Sector/Joint Sector shall be eligible for incentives:

• Industries listed in the First Schedule of the Industries (Development and Regulation) Act,

1951, as amended from time to time

• Manufacturing Enterprises as defined in the MSMED Act, 2006

• Information Technology (IT) & Bio Technology (BT) Manufacturing Units

• Mechanized Food / Agro Processing Industries in following sectors:

➢ Dairy, Fruit and Vegetable Processing.

➢ Grain Processing.

➢ Fish/Meat/Poultry Processing.

➢ Consumer foods including Packed foods.

➢ Non alcoholic beverages from fruits and vegetables.

(Note: Only secondary and tertiary agro and food processing units shall be eligible for

incentives. This condition will not be applicable to processing/manufacturing units set up by

Farmers Producers Companies and the units set up in govt assisted food parks and carrying

out primary processing activity)

*Explanation:

➢Primary Agro/Food Processing: Turns agricultural produces into something that caneventually be eaten. This category includes ingredients that are produced byprocesses such as drying, threshing, winnowing and milling grain, shelling nuts etc.

➢Secondary Agro/Food Processing: involves mechanized processing of food/agroingredient that has already undergone primary processing. Eg. Baking Bread in aBakery.

➢Tertiary Agro/ Food Processing: is the mechanised commercial production of whatis commonly called processed food. These are ready to eat or heat and serve foods,such as re-heated airline meals.

Units which are not eligible:

The units manufacturing the following products shall not be eligible for incentives

under PSI-2019:

• Beer, liquor manufacturing industries

• Cigarette, bidi or any other tobacco containing products manufacturing

industries

• Gutka & pan masala manufacturing industries

• Any other product(s) banned by Central/State Government.

Note: Units manufacturing all types of textiles including cotton ginning and

pressing, sizing, spinning, weaving, bleaching, dyeing, mercerizing, etc. covered

under the Textile Policy- 2018-23 of Maharashtra State shall be eligible only for

incentives other than those offered by the other state government agencies.

PSI-2019

MSMEs

Financial Incentives: New MSME units & Small Industries will be eligible for a

Basket of Incentives. The total quantum of incentives will be linked up to the percentage of actualeligible Fixed Capital Investment as per Taluka/Area classification. The aggregate fiscal incentivesprovided by various departments of the State Government shall not exceed the basket of incentives(as %age of FCI)

• Basket of incentives for new MSME units & Small industries is:

Taluka/Area Classification Maximum Ceiling of basket of

incentives as % of FCI

Eligibility Period

(Yrs)

A -- --

B 30% 7

C 40% 7

D 50% 10

D+ 60% 10

Vidarbha, Marathwada, Ratnagiri,

Sindhudurg & Dhule

80% 10

No industry Districts, Naxalism Affected

Areas & Aspirational Districts

100% 10

Financial Incentives:

• The quantum of incentives for food/agro processing units, eligiblegreen energy/bio-fuel manufacturing units & units carrying outindustry 4.0 activity (Artificial intelligence, 3D Printing, internet ofthings & Robotics) will be 20% over & above the limits mentionedabove & will get 2 more years of eligibility to avail incentives.

Expansion/Diversification Units:

• Eligible for incentives equivalent to 80% of the incentives admissiblefor New Units & the eligibility period will be reduced by one year.

Classification of Area for PSI-2019: For the purpose of PSI-2019, on the

basis of level of industrial development, different areas of the state (taluka wise) has been

classified as:

i) Group-A Industrially Developed Areas

ii) Group-B Developed but less than Group-A

iii) Group-C Less Developed Than Group-B

iv) Group-D Lesser developed areas not covered under Group-A/B/C

v) Group-D+ Least developed areas not covered under Group-A/B/C/D

vi) No Industry District District having no industries viz. Hingoli & Gadchiroli

vii) Naxalism Affected Area Area affected by Naxalism

viii) Aspirational Districts Defined by Govt. of India viz. Washim, Gadchiroli, Osmanabad &

Nandurbar

Who are MSME units & Small Industries??

• MSMEs shall be construed as per the definition in the MSMED Act 2006 which says:

& Units outside the above definition with Total Gross Fixed Capital Investment (FCI)

up to Rs.50 Crore* as Small Industries.

(Note:*The gross FCI of Expansion/diversification Units should be up to Rs.50 Crores after expansion to qualify for incentives under this category)

Category Investment in Plant & Machinery

Micro Upto Rs.25 Lakhs

Small Between Rs.25 lakhs to Rs.5 Crores

Medium Between Rs.5 Crores to Rs.10 Crores

Meaning of New & Expansion/diversification unit:

• Existing Unit:

• A Unit which has been set up and is in production on or any time prior tothe 1st April, 2019, or

• A Unit which has been granted an Eligibility Certificate (EC) or hasavailed any incentives (excluding Stamp Duty) under any of the EarlierSchemes, or

• A Unit which has filed a valid application for grant of an EC under thePSI-2013 with any of the Implementing Agencies on or before the 31stMarch 2019.

New Unit:

• Unit which is set up for the first time by an entity in any taluka wherethere is no Existing Unit set up by the said entity, provided that suchUnit satisfies the following conditions:

• It is not an Existing Unit.

• At least one of the Effective Steps is completed on or after the1st April, 2019 for setting of the Unit.

• It is not formed as a result of re-establishment, mere change ofownership, change in the constitution, reconstruction or revivalof an Existing Unit.

Expansion/Diversification Project:

• The investment shall be regarded as Expansion or Diversification project if it satisfies thefollowing conditions:

• The said additional fixed capital investment should exceed 25% of the existinggross fixed capital investment as on the last day of previous Financial Year.

• The minimum additional fixed capital investment made on or after 1st April, 2019should be Rs.25 Lacs in case of MSMEs, Rs. 5 Crores in case of non-MSMEs upto Special LSIs and Rs. 10 Crores in case of LSI and Special LSIs.

• The additional fixed capital investment should result in increase of existinginstalled production capacity by at least 25% (in case of Expansion or expansioncum diversification but not mere diversification "per se”)

• There should be increase in the employment at least to the extent of 10% ofexisting level and 80% of such additional employment should be from amongstlocal persons.

• There will be limit of TWO number of expansions/diversifications in the schemeperiod.

What is Actual Eligible Fixed Capital Investment:

• The actual eligible Fixed Capital Investment shall mean & include the capitalizedvalue of the following assets (net value after all set offs):

• Land/area in effective possession with permission for industrial use.

• Cost of development of the location of the unit

• Building- any new built up area including administrative building, residential quarters, industrial housing &

accommodation for all such facilities as are required for the manufacturing process at the site

• Amount paid to Electricity Distribution company for supply of power or to MIDC for development ofinfrastructure or to any other govt. agency for similar purpose excluding deposits paid.

• Plant & Machinery required & used for sustaining the working of the unit at site (excluding vehicles)

• Cold storage which are a part of integrated manufacturing process.

• Installation Charges & pre-operative expenses capitalized.

• Research & Development- up to 25% of FCI (max Rs.100 Cr)

• Royalties paid for technology transfer & technical know how including cost of drawings & know how fees(up to max. 10% of capital cost)

• Investment in Captive power plant- considered for qualifying criteria for eligibility but not for incentives.

---contd--

Conditions:

• Only new fixed assets shall be accepted.

• The project appraisal shall be done by the lender of term loan

• In case project is financed by NBFC/Credit Society/Self or partly financedproject; the appraisal to be done by Scheduled Commercial Bank/SICOM.

• Only imported second hand machinery having residual life of minimum 10years shall be considered towards Gross FCI.

• The assets on which benefit is availed cannot be disposedoff/sold/shifted/written off without prior permission of implementingagency.

• Any increase in Gross FCI as a result of replacement of any fixed assetsearlier considered under the EC shall not have any additional incentives.

How much time we get for such investment:

• Investment Period:

• It is period for unit to acquire the fixed assets at site and put them touse for commercial production. The permissible investment period forvarious categories are as under:

Category of Unit Period of investment

MSME Three years

LSI & Special LSI Four years

Mega/Ultra Mega Five years

Procedure for Application & Claim for Eligibility

• Application for EC: An application for eligibility under PSI-2019 Scheme shall be submitted

to the implementing agency by an eligible unit along with documentary evidence only after it has

taken all the effective steps but not later than 31st march 2024.

• A valid application for eligibility shall be submitted on or before the date of commencement of

commercial production. If there is any delay, the EC period and entitlement amount will be

curtailed proportionately.

• Now what these Effective Steps are:

➢ Effective possession of land/shed/gala, having a permission for industrial use

➢Registration, in case of firm/LLP/Company/Trust/Society/Co-operative society.

➢LOI for IT/BT manufacturing Units

➢ In case of MSMEs- Consent to Establish from MPCB

➢Other than MSMEs- Copy of IEM

Claim for EC:

• For claiming eligibility, the unit shall commence the commercial production &

also acquire the fixed assets at site, put them to use & paid for the same within

the permissible investment period.

• The investment period shall be counted from the date of submission of

application or the date suggested by the eligible unit. The date should be within

the scheme period & assets acquired should be within the investment period.

• However, in case of vacant land acquired prior to policy period or investment

period; the cost of such land shall be considered as a part of eligible fixed capital

investment, provided no incentives were availed earlier under any scheme on the

said land.

• The unit shall obtain a separate registration under Maharashtra GST Act 2017

Effective Date of Eligibility Certificate

The EC shall be issued with effect from the date of commencement ofcommercial production. For the purpose of EC, the date ofcommencement of commercial production shall be deemed to be the firstday of the month following the month in which such production hascommenced.

Claiming benefits under Expansion/Diversification:

The unit shall be required to maintain separate record of production forsuch expansion. In case, however, maintain separate records is notpossible, the benefits for such eligible units shall be available in the ratioof additional fixed capital investment to the gross fixed capitalinvestment.

---contd..---

In which form I will be getting the above benefit?

Financial Incentives to MSMEs & Small Industries:

Type of Subsidy To whom Quantum of subsidy

Industrial Promotion

Subsidy (IPS):

All eligible

New/Expansion

units

100% Gross SGST payable on 1st sale of eligible products billed

and delivered within Maharashtra

Interest Subsidy All eligible New

Units

5% pa on term loan (not exceeding the bills paid for electricity

consumed during the relevant year)

Exemption from

Electricity Duty

(Out of Basket of

Incentives)

All eligible New

Units (except

units in Grp A&B

areas)

Exempt from payment of electricity duty during applicable

eligibility period

In Grp-A &B

areas

Only eligible 100% export oriented units, IT/BT manufacturing

units will be exempted from payment of electricity duty for a period

of 7 years.

---contd---



Waiver of Stamp

Duty

All eligible New/Expansion Units (except

units in Grp-A&B areas)

Exempt from payment of stamp duty for acquiring land

(including assignment of lease rights & sale certificate) &

for term loan purposes.

In Grp-A&B areas -IT/BT manufacturing Units in Public IT/BT Parks:100%

-IT/BT manufacturing Units in Private IT/BT Parks:75%

Power Tariff

Subsidy

Eligible New MSME & Small Industries in

Vidarbha & Marathwada, North Maharashtra

& districts of Raigad, Ratnagiri & Sindhudurg

in Konkan Region, No Industries Districts,

Naxalism Affected Areas & Aspirational

Districts

Re.1/- per unit for a period of 3 years from the date of

commencement of commercial production for energy

consumed & paid.

Other Area Rs.0.50 per unit for a period of 3 years from the date of

commencement of commercial production for energy

consumed & paid.

---contd--


• Additional Incentives for Strengthening MSMEs (Out of Basket):


Technology

Upgradation

Expansion

projects of

MSMEs &

Small

Industries

5% subsidy only on additional capital equipment acquired for

Technology upgradation, subject to maximum of Rs.25.00 lakhs

Quality Certification 75% subsidy on expenses incurred –Limited to Rs.1.00 Lakh

Cleaner Production

Measures

25% subsidy on additional capital equipment acquired for cleaner

production measures–Limited to Rs.5.00 Lakhs.

Patent Registration 75% subsidy on expenses incurred- Limited to Rs.10.00 lakhs for

National Patents & Rs.20.00 lakhs for International Patents.

Water Audit 75% of cost of water audit limited to Rs.1.00 lakh

Energy Audit 75% of cost of energy audit limited to Rs.2.00 lakh

Conserve/Recycle

Water

50% of cost of capital equipment-limited to Rs.5.00 lakhs

Improving Energy

Efficiency

50% of cost of capital equipment-limited to Rs.5.00 lakhs

Credit Rating 75% of cost-limited to Rs.40,000/-

Procedure for Claiming Incentives

The eligible units shall file a valid claim in prescribed format on annual basis. Thevalid claim shall be filed within 11 months from the close of concerned financial year.First such claim shall be filed within 11 months from the close of the financial year inwhich EC has been issued or its effective eligibility was established, whichever islater.

A valid claim shall be preferred in Form II (Annexure-A) along with the following:

• Annexure-B (Auditor’s Certificate) certifying the actual value of turnover/GSTpaid/payable.

• Certified Copies of SGST Returns and tax paid challans

• Statutory SGST Audit Report

• Annexure-C (Auditor’s Certificate) with regards to fixed assets.

• Annexure-D (Estimate) regarding anticipated liabilities under SGST for next FY.

• Audited financial statements

• Annual Follow-up Report

• Board Resolution empowering signatory for signing application

Sanctioning of Incentives:

• Based on above documents, the Implementing Agency shall sanction 90% ofIPS in case of Mega/Ultra Mega Projects and 85% of IPS in case of otherunits.

• Claim for remaining 10% / 15% of IPS shall be sanctioned by theImplementing Agency after completion of assessment and receipt of Form-Afrom GST authority.

• Any delay in filing of valid IPS claim within the prescribed time shall attractpenalty by way of 10% deduction in quantum of admissible IPS and fordelay exceeding 6 months, claim shall be automatically treated as lapsed.

• The last claim of 10% / 15% shall be sanctioned by Implementing Agencyonly after completion of Operative Period.

Financial Incentives

• NOTE:

• Apart from Industries Departments Package Scheme of Incentives, micro, small, medium,large, mega & ultra mega units are given incentives/concessions by other administrativedepartments of state government (eg. Textiles, Food processing, tourism, IT). Thefinancial refunds/incentives to an industrial units from all sources put together shall notexceed admissible fixed capital investment as per respective taluka category.

• Yearly Cap On Incentives

• The amount of incentives to be disbursed to all category of units every year will belimited to the total quantum of incentives divided by the number of years as per theapplicable Eligibility period with the provision of carrying forward the surplus differentialbetween the actual sanctioned amount for a given year and the yearly disbursement limit.Deficit differential will not be carried forward.

• (High Power Committee has the power to amend the yearly cap of incentives in case of Mega/UltraMega Projects.)

Monitoring & Review:

• The eligible unit shall submit a report covering details regarding:

-production and sales,

-indicating period of stoppage of production and/or closure of unit withreasons there for,

-addition to the fixed capital investment

-disposal of fixed assets and

-changes in the constitution of the unit.

• Shall also submit within a period of 9 months from the closure of every year, acertified true copy of the audited annual statement of accounts & balance sheetsfor the said year.

• Failure on the above part shall mount to breach of the provisions of PSI-2019,entailing suitable action as provided under the Procedural Rules, including actionto cancel the EC or premature recall of and immediate recovery of the incentivesdrawn/availed.

Operative Period:

• Mean & include the minimum period of operation of unit which has availed incentives under the scheme.

• If the unit which has availed incentives stops production during the operativeperiod, then the incentives availed shall be recovered along with penal interest asper law.

Category Period

Micro & Small Scale Eligibility period + 5 Years

Medium & Large Scale Eligibility period + 7 years

Mega Projects Eligibility period + 10 years

PSI-2019

Large Scale Industries

Financial Incentives to LSI & Special LSI:

• New Large Scale Industrial Units & Special LSI Units will be eligible for a basket of incentives as mentioned below:

Taluka/Area Classification Maximum Ceiling of basket of

incentives as % of FCI

Eligibility Period (Yrs)

A & B (Only LSI) 25% 7

C 40% 7

D 60% 7

D+ 70% 7


Sindhudurg & Dhule

80% 9

No industry Districts, Naxalism

Affected Areas & Aspirational

Districts

100% 9


• The quantum of incentives for food/agro processing units, eligible green energy/bio-fuelmanufacturing units & units carrying out industry 4.0 activity will be 20% over & abovethe limits mentioned above & will get 2 more years of eligibility to avail incentives.

• The units applying for incentives & going for commercial production in the 1st year ofpolicy period will be given full basket of eligible incentives. If the unit applies or goesinto commercial production in subsequent years of the policy period, the ceiling of basketof incentives will be reduced by 5% each year of delay in going into commercialproduction. (This provision will not be applicable to industries in thrust sectors)

• Expansion/Diversification Units:

• Eligible for incentives equivalent to 80% of the incentives admissible for New Units &the eligibility period will be reduced by one year.

What do Large Scale Industries mean:

• Industrial Units having investment more than Medium manufacturing enterprise as defined under MSMED ACT 2006 up to FCI of Rs.50 Cr but less than Mega Projects, satisfying the minimum threshold limit of FCI or Direct Employment shall be classified as Large Scale Industries(LSI)

Taluka/Area Classification Minimum Qualifying Fixed

Capital Investment (in Cr.)

Minimum Direct

Employment (No. of

People)

A&B 750 1000

C 500 750

D 250 500

D+ 150 400


Sindhudurg & Dhule

100 300

No industry Districts, Naxalism

Affected Areas & Aspirational Districts

100 250

OR

Direct Employment:

- Shall mean on pay roll of the company covered under Maharashtra

Profession Tax Act, Employees Provident Funds & Misc Provisions

Act & Scheme & for which EPF contribution is paid by the unit.

- It shall not include employees on the pay roll of the contractors.

- The eligible unit shall maintain a record of the employees on its roll

such as Aadhar Card/ Election Voting Card.

Then what does Special LSI mean??

Units having eligible FCI more than Rs.50 Cr. & up to the minimuminvestment stipulated for qualifying as LSI unit are termed as SpecialLSI and will have separate dispensation for incentives.



Industrial Promotion

Subsidy (IPS):

All Eligible new &

Expansion/Diversification LSI

50% of Gross SGST payable on 1st sale of eligible

products billed & delivered within Maharashtra

All Eligible new & Expansion Special

LSI (except units in Grp-A&B areas)

40% of NET SGST paid on 1st sale of eligible products

billed & delivered within Maharashtra

Exemption from

Electricity Duty

All eligible New Units (except units in

Grp A&B areas)

Exempt from payment of electricity duty during

applicable eligibility period

In Grp-A &B areas Only eligible 100% export oriented units, IT/BT

manufacturing units will be exempted from payment of

electricity duty for a period of 7 years.

Waiver of Stamp Duty All eligible New/Expansion Units

(except units in Grp-A&B areas)

Exempt from payment of stamp duty for acquiring land

(including assignment of lease rights & sale certificate)

& for term loan purposes.

In Grp-A&B areas -IT/BT manufacturing Units in Public IT/BT Parks:100%

-IT/BT manufacturing Units in Private IT/BT Parks:75%

-Large Projects & Mega & Ultra Mega Projects:50% for

first lease/conveyance deed only.

PSI-2019

MEGA & ULTRA MEGA PROJECTS

Mega Projects/Ultra Mega Projects:

• Industrial Units satisfying the minimum threshold limits of Fixed Capital Investment OR Direct Employment as below shall be classified as Mega/Ultra Mega Projects:

Type of

Unit

Taluka/Area Classification Minimum Qualifying Fixed

Capital Investment (in Cr.)

Minimum Direct

Employment

(No. of People)

Mega A&B 1,500 2,000

C 1,000 1,500

D 750 1,000

D+ 500 750


Sindhudurg & Dhule

350 500

No industry Districts, Naxalism Affected

Areas & Aspirational Districts

200 350

Ultra

Mega

Entire State 4,000 4,000

OR

For Mega/Ultra Mega Projects:

➢ Tooling acquired by the Mega/Ultra Mega Project may be located at the premises of variousancillary units of the Mega/Ultra Mega Project within the state, limited to maximum 40% of thetotal Plant and Machinery of such Mega/Ultra Mega Project.

➢ If Mega/Ultra Mega Project wants to support certain Captive Process Vendors who may put upinvestment purely and entirely for the purpose of carrying certain processes in the overallmanufacturing process of the eligible Mega/Ultra Mega Project but the said investment will notqualify for the benchmark for investment criteria to fulfill Mega/Ultra Mega Project status.However, the same shall be counted for eligible FCI.

➢ Such Captive Process Vendors should be engaged in a part of the manufacturing process (and notfor manufacturing components or independent products) of only one Mega/Ultra Mega Project.

➢ Such Captive Process Vendors are located in the same industrial area or higher classified talukawhere the Mega/Ultra Mega Project is situated.

➢ Such captive process vendors shall not eligible to any benefits under PSI.

Financial Incentives for Mega & Ultra Mega Projects:

• The quantum of incentives & eligibility period for Mega Projects andUltra Mega Projects shall be decided by the High Power Committeeunder the chairmanship of the Chief Secretary, Government ofMaharashtra on a case to case basis. However, the Cabinet SubCommittee for Mega Projects, under the chairmanship of the ChiefMinister of Maharashtra will have the powers to sanction customizedpackage of incentives and even offer special / extra incentives forprestigious Mega Projects / Ultra Mega Projects, on a case to casebasis with recommendation of High Power Committee.

Conditions for LSI/ Mega/ Ultra Mega Units

• Provided that:

• LSI/Mega/Ultra projects based on employment criteria shall berequired to maintain the qualifying direct employment on roll & in thepremises of the eligible unit throughout the year & 80% of suchemployees should be local persons.

• Minimum direct employment prescribed should be created within aperiod of 2 years from the date of commencement of commercialproduction.

• The investment in captive power plant including solar power plantshall be considered for determining the qualifying criteria but the samewill not be incentivized. However the investment in captive powerplant will be limited to 20% of total project cost.

PSI-2019

OTHER IMPORTANT CONTENTS IN THE SCHEME

Thrust Sectors

• With a view to steer industrial development towards high tech emerging sectors and generate employment, the State

govt. has identified following thrust sectors. Thrust sector shall mean & include:

i) Electric vehicles

ii) Aerospace & defence manufacturing

iii) Industry 4.0 (Artificial intelligence, 3D printing, Internet of things & Robotics, Nanotechnology, among others)

iv) Integrated Data Centre Parks (IDCP)

v) Textile Machinery manufacturing

vi) Bio technology & Medical & Diagnostic Devices

vii) Agro & food processing (Secondary & Tertiary Food Processing Units)*

viii) Information Technology (IT) & IT Enabled Services (ITeS)

ix) Electronic Systems Design & Manufacturing (ESDM) & Semiconductor Fabrication (FAB)

x) Logistics & warehousing

xi) Green Energy/Bio Fuel Production

xii) Sports & Gym Equipment manufacturing

xiii) Nuclear Power Plant equipment manufacturing

xiv) Mineral/Forest based industries

Implementing Agencies:

• The implementing Agencies for the purpose of PSI-2019 shall be:

• The eligible units will continue to remain with the implementing agency whichhad issued an EC in the present scheme for the purpose of incentive & othermatters, even if the Eligible unit ceases to be in the said category (Micro, Smallindustry etc.) for which EC was issued. However, consequent toexpansion/addition in assets/diversification, if the Gross FCI is exceeding Rs.50Cr, the implementing agency shall be Directorate of Industries, Head Office,Mumbai.

Category of Industrial Units Implementing Agency

Micro & Small Concerned DIC

Medium manufacturing enterprises and small industries

The Regional Joint Directors of respective Region (JDI (MMR))

Special LSI/LSI/Mega projects/Ultra Mega Projects

Directorate of Industries, Govt. of Maharashtra

Green Industrialization Assistance

Eligible green industrialization units shall be provided a GreenIndustrialization Assistance for undertaking measures to conserve water,energy & environment. Projects covered under the scheme includewaste management systems (including ETP, STP etc.), pollution controlsystems/ devices, health & safety systems/devices, water conservation/harvesting systems/ devices & captive renewable power generation.Budgetary support from MPCB & Govt. of India’s Scheme will beconsidered. A committee under chairmanship of DevelopmentCommissioner (Industries) will approve these incentives.

Re-appraisal of the project/ Restructuring of original Appraisal of projects under PSI-2019

• Re-appraisal/ re-structuring of the project cost by respective term lendinginstitution, within the project cost already appraised & accepted by theimplementing agency while issuing EC, prior to cut-off date for makingadmissible investment, if duly justified, can be accepted by the implementingagency.

• In case permission for shifting of assets is granted, a re-appraisal of the projectshall be submitted to the implementing agency for the project at new/relocatedsite.

• In case of mega & ultra mega projects the prior approval of department ofindustries shall be needed.

PSI-2019

Thank you

CA. NITIN AGRAWAL

Documents

Package Scheme of Incentives, 2019 · 2019. 8. 11. · Nagpur 9822572295. PSI-2019 ... Procedure for Application & Claim for Eligibility ... • The unit shall obtain a separate registration