Chapter XIV PACKAGE SCHEME OF INCENTIVES

Definitions under Chapter XIV. 76

Grant of Certificate of Entitlement. 77

Cancellation of Certificate of Entitlement.

1. (1) The Commissioner may, for reasons to be recorded in writing, cancel or suspend the Certificate of Entitlement granted to an Eligible Unit, if such unit fails to comply with any of the provisions of this Act or the rules made thereunder or with any of the terms and conditions stipulated in the Eligibility Certificate or the Package Scheme of Incentives under which the incentives were granted: Provided that, no such order shall be passed without giving the Eligible Unit a reasonable opportunity of being heard.
2. (2) The Commissioner may, upon an application made by an Eligible Unit, cancel the Certificate of Entitlement, if the unit has ceased to work or is closed down.

Change in the nature of incentives.

No Eligible Unit shall change the nature of incentives already granted or opted for, unless such change is permitted and approved by the implementing agency or the State Government under the Package Scheme of Incentives concerned.

Annual ceiling on benefits to be availed of under Package Schemes of Incentives.

1. (1) Notwithstanding anything contained in this Act or in any Package Scheme of Incentives, the quantum of incentives to be availed of by an Eligible Unit in any financial year shall not exceed the ceiling, if any, fixed under the relevant Package Scheme of Incentives.
2. (2) If the total amount of incentives available to an Eligible Unit in a financial year exceeds the ceiling, the excess amount shall be carried forward to the subsequent financial year or years, subject to the overall ceiling, if any, prescribed under the relevant Package Scheme of Incentives.

Proportionate incentives to an Eligible Unit in certain contingencies.

1. (1) Where an Eligible Unit, to whom the Certificate of Entitlement has been granted, is closed down or discontinues its production or operation during the period for which the incentives are available, the incentives shall be allowed only in proportion to the period during which the unit was in operation.
2. (2) The Commissioner may prescribe the manner in which the proportionate incentives shall be calculated and allowed to the Eligible Unit.

Extension of period of limitation in certain cases.—The State Government may, by notification in the Official Gazette, extend the period of limitation prescribed for the filing of any return, or for making any payment of tax or for filing any appeal or application or for any other proceeding under this Act, for such period as may be specified in the notification, if it is satisfied that it is necessary or expedient so to do.