The scheme be called the Tripura Incentive
Scheme, 2002 (hereafter referred to as "Scheme/2002")
for industrial units (hereafter referred to as "units")
to be set up in State of Tripura
Commencement
and Duration
Unless specifically mentioned against
the respective items of incentives sanctioned under
Scheme/2002, it shall come into effect, on and from
the first day of April, 2002, in the whole of Tripura
and shall remain valid for a period of five years ending
on the thirty first day of March, 2007. However, wherever
an incentive is being allowed to a unit for a period
of 5 years from the date of setting up of the unit,
such benefit will continue to be available till the
expiry of the 5 year period for that particular unit,
even beyond the thirty first day of March, 2007.
In Scheme/2002, unless the context
otherwise requires:
"AFC" means Assam Financial
Corporation.
ii. "Ancillary Industry" means an industrial
unit, meeting the requirements to be complied with by
an industrial undertaking for being regarded as ancillary
industrial undertaking, as prescribed by the Central
Government, from time to time.
"Authorised Agent" means the Directorate of
Industries and Commerce and/or TIDC, or an agent specifically
authorised by the State Government, for operation of
the Scheme/2002.
"Central
Government" means Government of India.
"Closed Unit" means a unit, which is not less
than 7 years old and has remained permanently closed
for more than 3 years before the date of transfer of
ownership/ management.
vi. "Export-oriented Unit" means a unit, with
an obligation to export at least 25% of its production
by the end of three years from the date of commencement
of commercial production.
vii. "Factory"
means any premises including the precincts thereof:
a) wherein ten or more workers are working or were working
on any day of the preceding twelve months and in any
part of which, a manufacturing process is being carried
out with the aid of power or is ordinarily so carried
on ; or
b) wherein twenty or more workers
are working or were working on any day of the preceding
twelve months, and in any part of which, a manufacturing
process is being carried out without the aid of power
or is ordinarily so carried on,but does not include
a mine, subject to the operation of the Mines Act, 1952
(35 of 1952), or a railway running shed.
viii. "Factory Worker" means a person employed
directly or through any agency, in a manufacturing process
or in cleaning any part of the machinery or premises
used for a manufacturing process or in any other kind
of work incidental to or connected with, the manufacturing
process or the subject of manufacturing process.
ix. "Fixed Capital Investment" means investment
made in land, building, plant and machinery of the unit
on or after first of April, 2002, but before or on thirty
first of March, 2007, subject to the other conditions
laid down in Paragraph 6 of the Scheme/2002.
Explanation.
"Fixed capital Investment"
shall be calculated as follows
a) Land Actual price or premium paid for the land,
freehold or leasehold, as determined by the authorized
agent.
b) Building: The actual expenditure incurred for construction
of the office building, factory sheds etc., as necessary
for the unit, but not including the residential quarters.
c) Plant & Machinery: the fixed capital investment
in plant and machinery shall also include the cost of
machinery and installation of captive power generation
unit, cost of drawl of high tension and low tension power
lines and installation of transformer, provided that it
is done with the prior approval of the State Industries
& Commerce Department and further provided that such
costs have not been otherwise reimbursed by the State
or Central Government. The Fixed capital investment on
plant and machinery shall be calculated as follows:
The cost of plant and machinery
as erected, including the cost of productive equipments
such as jigs, dies, moulds etc., but excluding the
cost of any second-hand plant and machinery.
Original cost
of plant and machinery as erected, including the cost
of productive equipments such as jigs, dies, moulds
etc purchased and installed under any hire purchase
agreement from NSIC or any other Central or State Government
Agency or Undertaking shall be eligible, as and when
the said plant and machinery becomes the property of
the unit on full payment of all hire purchase instalments,
but excluding any interest and/ or service charge for
hire purchase.
In the case of plant and machinery taken on lease, the
leasing fee/ charges, subject to a maximum of the equivalent
purchase price of the plant & machinery, as on the
date of leasing, shall be eligible, as and when the
said plant and machinery, becomes the property of the
unit, on full payment of all leasing fee/ charges.
In the case of a sick unit, the value
of fixed assets in land, building, plant and machinery,
as accepted and approved in the rehabilitation/ revival
package shall be taken as fixed capital investment.
In case of a closed unit, transfer value as per registered
deed will form the basis for determining fixed capital
investments for the purpose of incentives as stipulated
in the Scheme/2002.
"Gross Value of the Fixed Assets
of the Unit" means the gross fixed capital investment,
as it stood at the end of the previous financial year
plus the fixed capital investment made during the year
minus the value of fixed assets disposed off during
the year.
Large/Medium-scale Unit" means a unit, other than
a small scale or ancillary unit, as defined by the State
Government or the Central Government, from time to time.
xii. "Tripura
Sales Tax" means sales tax obligations of unit
to the State Government on the sales of finished goods,
if any, under the Tripura Sales Tax Act, 1976 (11 of
1976).
xiii. "Negative
List" means the list of industries in the Annexure
hereto, as may be amended or altered by the State Government,
from time to time.
xiv. "Non-conventional Energy"
sector shall mean industries based on the following
technologies:
a) Solar Photovoltaic, including silicon
material.
b) Solar Thermal.
c) Wind Energy.
d) Biomass.
e) Battery-operated Vehicle.
xv. "Sales
Tax Payable on Raw Materials" means sales tax payable
by the unit, to the registered dealer(s) under the Sales
Tax Act, as applicable on purchase of raw materials,
less set off admissible, if any, under the Tripura Sales
Tax Act, 1976.
xvi. "Scheme/95"
means the "Tripura Incentive Scheme, 1995".
xvii. "Sick
Unit" means a unit, meeting the requirement of
a sick unit as per definition of the Government of India
or Reserve Bank of India, from time to time.
xviii. "Small
Scale Industry" means an industrial unit, meeting
the requirements to be complied with by an industrial
undertaking for being regarded as small-scale industrial
undertaking, as prescribed by the Central Government
from time to time.
xix. "Standard
Certification" means certification given by a competent
authority, after due inspection/ testing on standard
of goods produced/ processes followed by the concerned
unit.
xx. "State
Financial Institutions" means AFC and TIDC.
xxi. "State Government"
means the Government of Tripura.
xxii. "Thrust
Sector" means a sector of industrial activities
having special significance for the State, such as industrial
activities based on information technology, natural
rubber, natural gas, biotechnology, food processing,
cane & bamboo, sericulture, cash crops like tea,
coffee, spices and industries in the non-conventional
energy sector; and such others as may be notified by
the State Government further.
xxiii. "TIDC"
means the Tripura Industrial Development Corporation
Ltd.
xxiv. "Tiny Industrial Unit"
means a small-scale unit, with investment upto a ceiling,
as may be prescribed by the Government of India, from
time to time.
a) Small scale/
ancillary sector (including tiny cottage /village industries
and industrial co-operatives), having a permanent registration
certificate issued by the Directorate of Industries
& Commerce, on or after the first of April, 2002
or,
b) Large or medium
scale, having approval in the form of Letter of Intent,
Industrial Licence, Industrial Entrepreneurs Memorandum
(IEM) or Registration Certificate, as the case may be,
under the Industries (Development and Regulation) Act,
1951 (65 of 1951); or an acknowledgement in the form
of Secretariat for Industrial Approval Reference Number
from Central Government.
xxvi. "Women
Enterprise" for the purpose of the Scheme/2002
means an industrial unit managed by one or more women
entrepreneurs in proprietary concerns, or in which she/
they individually or jointly have a share capital of
not less than 51% as partners/ shareholders.
xxvii. "Year" means unless
otherwise specifically stated and not repugnant to the
context, the financial year commencing from the first
of April and ending on the thirty first day of March
following. In the case of a unit registered under the
Tripura Sales Tax Acts, "year" means the year
according to which its assessment is made under the
Act.
Illustration
If a unit maintains its account books
from July to June following and is being assessed accordingly
for the purpose of Sales Tax, then the year 2002-03
shall mean the period from the first of July, 2002 to
the thirtieth of June, 2003.
Provided that the State Government,
in Industries & Commerce Department, may, by notification,
amend the definitions under the Scheme/ 2002, to give
effect to changes in definitions by the Government of
India or to meet the changed requirements of the Scheme,
in the interest of effective implementation of the Scheme.
