MCI announced ‘New Central Sector Scheme for Industrial Development of Union Territory of Jammu & Kashmir’

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The Ministry of Commerce and Industry (“MCI”) vide Notification No. F. No. 1(1)/2020-SSS, dated February 19, 2021, announced New Central Sector Scheme for Industrial Development of Jammu & Kashmir (“Scheme”). The Scheme states the eligibility for availing incentives; governance and implementation mechanism; various incentives under the Scheme; process of application for registration, claiming incentives, approval and disbursal of claims; processing/ scrutiny of claims; industries not eligible for benefits and rights of the government of Jammu and Kashmir etc.

The Scheme will cover the Union Territory of Jammu and Kashmir and will be effective from April 01, 2021 and will remain in force up to and inclusive of March 31, 2037.

The Notification can be accessed at: http://egazette.nic.in/WriteReadData/2021/225276.pdf

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