The changes that have been adopted include the cost-plus method in place of CUP (comparable uncontrolled price) method for calculation of sales prices in case of captive consumption or supplies to group companies which also required amendment in the definition of ‘arms length’.
The other changes are:
*Investments in Tool room for manufacturing of Mould & Dies etc. will also be considered as eligible investment under Capital Investment
*Allowing one more year over and above two years, permitted for informing by beneficiaries about establishment of additional manufacturing facility;
*Revision of last date of submission of filing the claim and refund of excess incentive by the beneficiary on account of discrepancy between statutory compliance and records provided at the time of filing of claim(s), if any;
*Site visit by Administrative Ministry;
*Roll over of Bank Guarantee;
*Appropriate changes in Annexures to the Scheme Guidelines
The PLI Scheme for White Goods for manufacture of components and sub-assemblies of ACs and LED Lights was approved by the Union Cabinet in 2021 to increase self reliance in the production of these goods and create more jobs in the country. The scheme is to be implemented over a seven years period, from FY 2021-22 to FY 2028-29 and has an outlay of Rs 6,238 crore.
The PLI Scheme for White Goods is designed to create a complete component ecosystem for Air Conditioners and LED Lights Industry in India and make India an integral part of the global supply chains. Domestic Value addition is expected to grow from the current 15-20 per cent to 75-80 per cent.
–Ajit Weekly News
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News Credits – I A N S
