The Ministry of Commerce and Industry vide its notification dated 19th February 2021 has published the New Central Sector Scheme for Industrial Development of Jammu & Kashmir which shall be effective from 1st April 2021 and will remain in force up to and inclusive of 31st March 2037.
All units eligible under the Manufacturing and Service sector will be granted incentive(s) under this scheme and it shall not apply to units that manufacture the products listed in the negative list.
Service sector units with a minimum investment of Rs.1 crore in building and other durable physical assets will be eligible for incentives under this scheme. The scheme shall be applicable only for services listed in positive list in Annexure-II which may be modified further by the Steering Committee.
All eligible units have to commence commercial production/operation within 3 years from the date of grant of registration and the Registration shall commence from 1st April 2021 and will continue till 30.09.2024 and the application shall be of by 31.03.2025 unless otherwise extended.
Further based on the eligibility, the following incentives are provided under this scheme.
- Capital Investment Incentive (CII).
- Capital Interest Subvention (CIS).
- Goods & Services Tax Linked Incentive (GSTLI).
- Working Capital Interest Subvention (WCIS).
