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How to Get Maximum Subsidy Under State Credit Linked Interest Subsidy for Technology Up-gradation?

All your answers are here.

Subsidy, Subsidy meaning

 

“State Credit Linked Interest Subsidy for Technology Up-gradation” has been notified under the provisions of “Haryana Enterprises & Employment Policy, 2020”, with an objective to improve the access to finance for enterprises investing in modernization and technology up-gradation.

 

  1. Have you started your Business After Ist Jan 2021 ?

Scheme shall commence with effect from the date of notification of the Haryana Enterprises and Employment Promotion Policy, 2020 i.e. 01.01.2021 . Shall remain in operation for a period of 5 years. The assistance shall be available on term loan (Plant and Machinery).

 

 

  1. Observe objective of scheme.

The objective of Credit Linked Interest Subsidy Scheme for Technology Up- gradation is to improve the access to finance for enterprises investing in modernization and technology up-gradation.

 

 

  1. Actually take a look at your Business Eligibility for appropriation under this plan.

All the existing Micro and Small Units located anywhere in the State. Who have filed Udhyam Registration Certificate (URC) and Haryana Udhyam Memorandum (HUM) shall be eligible under the Scheme.

 

The eligible units must also comply with the following conditions:

  1. The unit must upgrade their existing plant and machinery with State of Art Technology with or without expansion/ diversification as per guideline under CLCSS Scheme of  GoI.
  2. Industry also graduating from small scale to medium scale on account of sanction of additional loan under CLCSS shall be eligible for assistance.
  3. The item of manufacture of unit should not have been placed in the restrictive list as notified by the State Government from time to time.
  4. Technology upgrade shall fall under – new, latest, clean, green and energy efficient technologies in different sectors.
  5. Unit should be in regular production at the time of disbursement and the subsidy shall not be released to a closed unit.
  6. The units who have applied under GoI’s Credit Linked Capital Subsidy Scheme (CLCSS), but have not been able to avail capital subsidy.

 

 

  1. Examine Your Business Can get Maximum Subsidy.

The State Government shall provide 6% subsidy in ‘C’ and ‘D’ category blocks and 5% subsidy in ‘A’ and ‘B’ category blocks on term loan taken to finance technology up- gradation. Up to a maximum of INR 10 Lakh per year for a period of 3 years to an eligible unit in specified sectors/products.

 

 

  1. Take a look at Non Applicability of the plan on certain advances.

Subsidy under this scheme shall not be applicable to any foreign currency term loan, multiple loans or transferred loans.

 

 

  1. Non Applicability of the scheme on Replacement of Existing Equipment.

Replacement of existing equipment/technology with the same equipment/technology will not qualify for subsidy under this scheme. Nor would the scheme be applicable to units upgrading with fabricated, second-hand machinery.

 

 

  1. Definitions are important For right subsidy claims.

  • Small Enterprise: Investment in Plant and Machinery or Equipment doesn’t surpass INR 10 crore and turnover doesn’t surpass INR 50 crore as changed under the MSMED Act, 2006 or as altered by GoI now and again.
  • Micro Enterprise: Investment in Plant and Machinery or Equipment does not exceed INR 1 crore and turnover does not exceed INR 5 crore as amended under the MSMED Act, 2006 or as amended by GoI from time to time.
  • Plant & Machinery: For availing subsidy under this scheme Plant & Machinery means Machinery, tools, fittings, installations. Equipment (including Generating Set) installed by the Enterprise for induction of well-established and improved technology in specified sub-sectors/products.
  • Financial institution(s): means a commercial bank for the time being included in the second Schedule to the Reserve Bank of India Act, 1934, Regional Rural Banks, NBFCs and Small Finance Banks as may be specified by the Trust from time to time.

In case you still are not very much clear about applicability or non applicability of this scheme with respect to your business. You can book appointment with kip consultants with following https://forms.gle/xmvxvLazjiGazbhLA

 

 

  1. Documents Required:

The following documents are required in order to apply for the scheme:

  • Copy of Udhyam Registration Certificate (URC) and Haryana Udhyam Memorandum (HUM)
  • Certificate of Incorporation/ Partnership deed
  • Board resolution/ Power of attorney
  • Change of Land Use (CLU)/ NOC from competent authority, if applicable
  • Declaration on non-judicial stamp paper of INR50
  • Certificate on Financial Institution/Bank’s letterhead
  • CA Certificate regarding investment in plant & machinery for new unit/expansion/ diversification
  • Audited balance sheet of the unit of last year (if Applicable)
  • Copy of first sale bill

Note : KIP Providers professional Services for application of Subsidy claims online at very reasonable prices. In case you want to apply for subsidy with our professional team, you can book your order at the following https://forms.gle/xmvxvLazjiGazbhLA

Our representative will contact you soon.

 

 

  1. Check your Time limit to apply does not Expire.

This is very and vital. On the off chance that you are not a lot of clear with regards to documentation and interaction of use. Kindly done apply own and search for proficient assistance. It is especially imperative to submit guarantee with in timetable given underneath. On the off chance that you don’t matter with in time restricts or your application  become time banned and you qualification stands terminated.

For your data’s The venture will relinquish its privilege for the sponsorship, assuming that it doesn’t present its case, complete in all regards inside 90 days of the acquisition of the gear for which Credit Linked Interest Subsidy is being guaranteed.

 

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In case you still have any queries , KIP team will be glad to serve you.

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