Your Gateway to Economic Empowerment!
Discover endless possibilities for your business growth with NCSS, a dynamic government initiative committed to fueling the engines of entrepreneurship and industrial development in Jammu & Kashmir. Our mission is to empower businesses with the financial support they need to thrive and succeed.
The Government of India has unveiled a series of exclusive incentives aimed at fostering industrial growth and development in Jammu and Kashmir. Whether you're a startup seeking capital incentive, an established enterprise looking to expand, or a running enterprise in need of production expansion, NCSS has your back.
Why Choose NCSS?
Join hands with us today and embark on a journey of growth, prosperity, and success. Together, we'll drive Jammu & Kashmir's economic transformation, one business at a time. Explore our offerings, check your eligibility, and take the first step towards a brighter future with NCSS!
Eligible Units:
- New Units
- Existing Units with Substantial Expansion
The Capital Investment Incentive is a unique opportunity offered under the NCSS scheme, providing financial incentive to eligible businesses for their investments. To qualify, businesses must meet specified criteria, such as maintaining a minimum level of investment and production or adhering to defined operational guidelines. This incentive aims to bolster economic growth and development. Please refer to the scheme document to check eligibility.
For units established on or after April 1, 2021, in Zone A, they qualify for a 30% incentive of their total capital investment in eligible Plant & Machinery. Alternatively, for units in Zone B, they are eligible for a 50% incentive of their total capital investment in eligible Plant & Machinery, with a maximum incentive cap of Rs. 5 Crore in Zone A and Rs. 7.5 Crore in Zone B.
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Eligible Units:
- New Units
- Existing Units with Substantial Expansion
Capital Interest Subvention, a key component of the NCSS scheme, offers financial relief to eligible businesses. To qualify, enterprises must pay timely installments of the term loan, including compliance with term loan repayment schedule and adherence to operational guidelines. This subvention promotes economic growth and sustains businesses through interest rate support. Please refer to the scheme document to check eligibility.
Interest on loan up to the principal amount of Rs. 500 crore for investment in eligible plant and machinery shall be eligible for Capital Interest subvention. New units will be eligible for this incentive on the loan availed on investment made in eligible plant and machinery (for manufacturing sector), or construction of building and other durable physical assets (for service sector).
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Eligible Units:
- New Units
The Goods and Services Tax Linked Incentive (GSTLI) is a vital element of the NCSS initiative, offering substantial financial benefits to eligible businesses. To avail the GSTLI, enterprises must fulfill eligible conditions and adhere to specified guidelines as mentioned in the scheme document.
All eligible units will be granted Goods & Services Tax Linked Incentive (GSTLI) equal to 100% of Gross payment of GST, i.e. GST paid through cash and input tax credit for a maximum period of 10 years from the date of commencement of commercial production/operation or till the validity of the scheme whichever is earlier. However GST paid on exported goods or services will not be counted towards eligible incentive amount under this component.
The amount of incentive paid in a financial year will not exceed one-tenth of the total amount of eligible incentive under this component subject to full payment of GST as per GST return filed for the claim period.
The quantum of incentive will be the same irrespective of the fact whether the unit is located in Zone A or Zone B in the UT of Jammu & Kashmir.
Discover the potential of GSTLI as a catalyst for your business's success, ensuring compliance, transparency, and financial stability in your journey toward economic prosperity.
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Eligible Units:
- Existing Units
The Working Capital Interest Subvention (WCIS) is a pivotal component of the NCSS scheme, offering substantial financial benefits to eligible businesses to grow their business potential. To avail the WCIS, enterprises must fulfill eligible conditions and adhere to specified guidelines as mentioned in the scheme document.
All existing units in the UT of Jammu & Kashmir registered under GST prior to the date of notification of this scheme will be eligible for this incentive, subject to the registration and other conditions as detailed in the guidelines.
All existing eligible units can avail interest subvention @ 5% on working capital loan for a maximum of 5 consecutive years from the date of grant of registration under this scheme. Existing eligible units availing benefits under this component will be eligible for five years period, even when they are undertaking substantial expansion.
The maximum benefit under this component for manufacturing as well as service sector units is Rs. 1 crore in 5 years. The methodology for calculation of the eligible amount of working capital interest subvention will be prescribed in the detailed guidelines issued there under.
Units located both in Zone A and Zone B in the UT of Jammu & Kashmir are eligible for this incentive.
Know moreAct Fast! Limited Time Opportunity!
Registration shall commence from 01.04.2021 and will continue till 30.09.2024, subject to the guidelines issued in this regard. Notwithstanding the aforementioned time period, if based upon the registrations already granted, the projected financial liability reaches 115 percent of the Approved Funds, registration process may be paused, either temporarily or permanently. However, registration process may be resumed depending on availability of Approved Funds. The registration will be granted by the registering authority as laid out in the guidelines, which will, inter-alia, consider the prima-facie eligibility of the unit and availability of approved funds.
Know moreIndustries should strongly consider participating in the new central sector scheme for the industrial development of Jammu & Kashmir for several compelling reasons:
The Department for Promotion of Industry and Internal Trade (DPIIT) was established in the year 1995 and was reconstituted in the year 2000 with the merger of the Department of Industrial Development. The department was earlier called Department of Industrial Policy & Promotion and was renamed as DPIIT in January, 2019.