SIDCUL Benefits

Hello sir, I am looking for the benefits to open an Industry in State Industrial Development Corporation of Uttarakhand Limited (SIDCUL). So can you please provide me the information regarding this and also the information of SIDCUL??

[Kiran Chandar]

The State Industrial Development Corporation of Uttarakhand Limited (SIDCUL) is a government of Uttarakhand enterprise which promotes industries and develops industrial infrastructure in the State.

The benefits of opening an industry in State Industrial Development Corporation of Uttarakhand Limited (SIDCUL) are as follows:

1. 100 percent Income Tax exemption for first 5 years and 30 percent for next 5 years for the Companies and 25 percent for others which comes in production by 31 March 2012.
2. Capital Investment Subsidy @15 percent with maximum of rupees 30 Lakhs (rupees 3 million) which companies comes in production by 31 March 2013.
3. Exemption from entry tax on Plant & Machinery for setting up Industry or undertaking substantial expansion and modernization
4. Land use conversion and development charges and regime will be rationalized
5. Stamp duty concession will be provided in respect of land in specialized commodity parks, including I.T. parks
6. Interest incentive @ 3 percent with a maximum of rupees 2 Lakhs per annum per unit shall be provided to New Small Scale Industries (SSIs) and existing SSIs for modernization and substantial expansion, provided they have available loan from State level Financial Institutions or Banks operating in Uttarakhand and not defaulted in payment of principal or interest installments. However, for S.S.I. units and units notified as Thrust Industries being set up in remote areas, the interest incentive shall be granted @ 5% with a maximum of rupees 3 Lakhs/annum. The interest incentives shall be admissible to the unit only if it remains in operation for last installment, failing which the Government will have the right to recover the amount of incentive availed.
7. For the purpose of Interest Incentive, Substantial Expansion shall mean additional investment of not less than 25 percent of the underpreciated book value of plant and machinery of an industrial unit
8. For the purpose of the Interest incentive, modernization of new existing Industrial units means additional investment to the extent of 25 percent of the underpreciated book value of plant and machinery, made in acquisition of plant and machinery and technical know-how for such modernization
9. For revival/rehabilitation of sick SSI units, interest incentive @ 3 percent with a maximum of rupees 2 Lakhs per annum shall be provided on the loan taken under fully tied up revival and rehabilitation package from financial institutions, banks etc. For entrepreneurs in remote areas the interest incentive will be granted @ 5 percent with a maximum of rupees 3 Lakhs per annum. The interest incentive shall be admissible to the units only if it remains in operation for minimum of 3 years from the date of date of disbursement of last installment, failing which Government will have the right to recover the entire amount of incentive availed
10. In the case of sick non-SSI units, Government will sympathetically consider measures required under revival/rehabilitation package drawn by Operating Agency/Financial Institutions/Banks
11. 100 percentage exemption on Entertainment tax will be allowed for Multiplex project in the State for period of three years, and for all new amusement parks and ropeways for five years.
12. 75 percentage of the Total Expenditure subject to a maximum of rupees 2 Lakhs incurred in obtaining national/internationally approved quality marks such as ISO series certificate etc., shall be reimbursed to the entrepreneurs provided that the reimbursement/grant availed for this from all sources should not exceed the total expenditure on this head
13. 50 percentage of the expenses subject to a maximum of rupees 1 Lakhs incurred in installing pollution control equipments shall be reimbursed to the entrepreneurs, provided that the total reimbursement/grant availed for this from all sources should not exceed the total expenditure on this head.
14. 75 percentage of the cost subject to a maximum of rupees 2 Lakhs shall be made available to the entrepreneurs in the shape of assistance for registering their patents, provided that the total reimbursement/grant availed for this from all sources should not exceed the total expenditure on this head.
15. For educated unemployed youth, financial loan assistance for project up to rupees 2 Lakhs in case of Manufacturing/Services Industry and project up to rupees 1 Lakhs in business sector shall be available under the “Prime Minister Rozgar Yojna” with subsidy of 15 Percentage of the project cost subject to a maximum of rupees 15,000. Age limit has also been relaxed under this scheme from 35 years to 40 years
16. Industries generating employment opportunities shall be encouraged
17. Purchase preference and price preference will be given to State SSIs in State purchases
18. Purchase preference shall be according to Non-SSI units within the State vis-à-vis units outside the State