Port Blair Jan.08: In order to boost the industrialization in Andaman & Nicobar and Lakshadweep Islands, Department for Industrial Development and Internal Trade, Ministry of Commerce & Industry, Govt. of India has notified “Lakshadweep and Andaman & Nicobar Islands Development Scheme (LANIDS)-2018”. The Lakshadweep and Andaman & Nicobar Islands Development Scheme (LANIDS)-2018, comprises of following incentives:-
- Central Capital Investment Incentive for access to credit (CCIAC)
For access to credit @ 30% of the investment in Plant and machinery with an upper limit of Rs. 5.00 crore.
- Central Interest Incentive (CII)
Interest Incentive @ 3% on working capital credit advanced by the Scheduled Banks or Central/State financial Institutions for the first five years from the date of commencement of commercial production/operation.
- Central Comprehensive Insurance Incentive (CCII)
Reimbursement of 100% insurance premium or insurance of building and Plant & Machinery for maximum period of 5 years.
- Goods and Service Tax (GST) Reimbursement
58% of the Central tax paid and 29% of integrated tax paid for the period of 5 years.
- Income Tax (IT) Reimbursement
Central Share of income tax for first 5 years.
- Transport Incentive (TI)
- 20% of the cost of transportation for finished goods for Shipping from the port nearest to the location of the industrial unit to the mainland Port.
- 20% of the cost of the transportation including the incentive currently provided by Railways or the Railway PSUs for movement of finished goods by rail from the railway station nearest to the mainland port to the railway station nearest to the location of the buyer.
- 33% of cost of transportation of air freight by scheduled airlines and Non-scheduled operator permit (NSOP) holders approved by DGCA for perishable items/goods (as defined by IATA) from the airport nearest to the location of Industrial unit to any airport within the country, nearest to the location of the buyer.
- Employment Incentive (EI)
3.67% of the employer’s contribution to EPF- in addition to Government bearing 8.33% Employee Pension scheme.
Unless otherwise specified, all new industrial units and existing industrial units undertaking substantial expansion in manufacturing and service sectors located in the Lakshadweep and Andaman & Nicobar Islands, will be eligible for incentives under the scheme.
The Industrial units who are willing to avail benefits under LANIDS-2018, they have to register themselves under the scheme prior to being eligible for any benefit under the scheme. The last date for registration id 31.03.2020. Accordingly an online registration portal has been created and hosted in the website www.and.nic.in under online services.
All the Industrial units who are willing to avail benefits under LANIDS-2018 are requested to apply for registration under the above online registration portal created under LANIDS-2018.