Haryana Registered Vehicle Scrappage & Recycling Facility Incentive Policy-2024
Dear-Businessman/Investors,
In Series of KIP: Business and Subsidy Update, today we are going to share with benefits of CAPITAL SUBSIDY to Micro&Small unit under “‘Haryana Registered Vehicle Scrappage & Recycling Facility Incentive Policy-2024, 2024” Department of Industries & Commerce, Government of Haryana.
The Governor of Haryana is pleased to notify this new policy ‘Haryana Registered Vehicle Scrappage & Recycling Facility Incentive Policy-2024’ on dated 21st October, 2024
Objective:
The Scrappage Policy of the Government of India provides a positive push to start a new and nascent automotive ecosystem in addition to the obvious benefits of reduction in pollution, fuel import bill, raw materials availability, recycle or re-use parts and impetus of replacement demand.
Quantum of Assistance:
The Capital incentives in this section are applicable for categories for Micro &Small unit with respect to B,C,D black category as specified below:
| Category of Industry | Category of Block | Capital Subsidy |
|---|---|---|
| Micro & Small Industry | B | 25% eligible capital expenditure or up to INR 35 Lakhs, whichever is lower |
| Micro & Small Industry | C | 25% of eligible capital expenditure or up to INR 40 Lakhs, whichever is lower |
| Micro & Small Industry | D | 25% of eligible capital expenditure or upto INR 40 lakh, whichever is lower |
Note: Fixed Capital Investment (FCI): Fixed Capital Investment refers to investment in land, building, plant & machinery. ii. Eligible Capital Expenditure: The eligible capital expenditure shall include building, plant, and machinery (excluding land).
Eligibility:
- All fixed capital investments made after the commencement of this Policy would be considered for the purpose of incentives.
- All RVSFs as approved by the Transport Department, Haryana and that have gone into commercial operations after notification of this policy shall be eligible for incentives.
- This policy is applicable to both new & existing RVSFs and RVS&RF units in Haryana undertaking an expansion/diversification,
- All the conditions stated for the Registered Vehicle Scrapping Facilities (RVSF) mentioned in theMotor Vehicles (Registration and Functions of Vehicle Scrapping Facility) Rules, 2021 and the VehicleScrappage Policy Haryana will be applicable unless otherwise specified in this documentand or asamended from time to time.
Applicability:
The Policy shall commence with effect from its date of notification in the official gazette and shall remain in operation for a period of 5 years or till the time the Government decides to discontinue this scheme, whichever is earlier.
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