[webpage ispartof=”About Us” maincontentofpage=”Achievements of Laghu Udyog Bharati” primaryimageofpage=”” relatedlink=”” headline=”Achievements – Laghu Udyog Bharati” keywords=”achievements” publisher=”Laghu Udyog Bharati, India” sourceorganization=”Laghu Udyog Bharati, India” name=”Achievements”][/webpage]
ACHIEVEMENTS OF LAGHU UDYOG BHARATI AT A GLANCE
SUGGESTION ACCEPTED IN CENTRAL BUDGET
Relief to SSI Sector in Budget- 1999-2000
NATIONAL PROGRAMME FOR RURAL INDUSTRIALISATION (NPRI)
IMPROVING CREDIT DELIVERY TO SSI SECTOR
A new credit insurance scheme launched
Composite Loan Scheme Limit Enhanced to Rs. 5 Lakhs
Working Capital Limit Enhanced to Rs. 5 Crores
Credit Delivery to Tiny Sector
Implementation of High Power Committee
MODIFICATION OF THE DEFINITION OF SMALL SCALE INDUSTRY INCOME TAX ACT.
Restoration of 100% MOD VAT Credit
Excise exemption for branded goods to units located in rural areas.
Cotton yarn included in General Excise Exemption Scheme
General SSI Exemption Limit would be 50 lakhs.
SSI Excise Exemption Scheme
|Clearance Value||Present Rate||Revised Rate|
|Upto Rs. 15 Lakhs||Nil||Nil|
|Rs. 15 to 30 Lakhs||50% of normal duty||Nil|
|Rs. 30-50 Lakhs||Normal duty||50% of Normal duty|
|Above Rs.50 Lakhs||Normal duty||Normal duty|
The eligibility limit for availing exemption has been enhanced from Rs. 50 lakhs to Rs.100 lakhs.
Duty exemption for printing of glazed files
SSI units permitted to pay excise duty on a monthly basis
OTHER GENERAL PROPOSALS FOR ALL INDUSTRIES INCLUDING SSI
Rationalisation of duty structure
Central Excise 11 major adv. rates have been merged into following three new rates-:
Customs 7 major adv. rates of basic custom duty merged into following 5 rates:
Imposition, of 10% Surcharge on Imports
Continuation of Special Additional Duty
The special additional duty @ 4 % shall continue.
Special customs duty abolished
Special customs duty @ 5% has be withdrawn.
Withdrawal of exemption