{"id":262268,"date":"2022-02-23T10:30:39","date_gmt":"2022-02-23T05:00:39","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=262268"},"modified":"2022-02-23T09:40:56","modified_gmt":"2022-02-23T04:10:56","slug":"production-linked-incentive-pli-scheme-for-textiles-forming-of-new-companies-investment-made","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/02\/23\/production-linked-incentive-pli-scheme-for-textiles-forming-of-new-companies-investment-made\/","title":{"rendered":"Production Linked Incentive (PLI) Scheme for Textiles- Forming of new companies &#038; investment made"},"content":{"rendered":"<p style=\"text-align: justify;\"><span id=\"page1R_mcid6\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">The Ministry of textiles in view of the various representations received from the industry regarding requirement to form a<br role=\"presentation\" \/>new company and investment made thereto prior to 24th September 2021, has decided tha<\/span><span dir=\"ltr\" role=\"presentation\">t \u201cA company though registered prior to date of notification i.e. 24th September <\/span><span dir=\"ltr\" role=\"presentation\">2021, but has not started production will be treated as a new company for the purpose of benefits under this <\/span><span dir=\"ltr\" role=\"presentation\">scheme. However, the investment made prior to date of notification i.e. 24th September 2021 will not be <\/span><span dir=\"ltr\" role=\"presentation\">counted for eligible investment.\u201d<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span id=\"page1R_mcid5\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">The said Notification No. 12015\/03\/2020-IT dated 24th September <\/span><span dir=\"ltr\" role=\"presentation\">2021 mentions that the applicant will form a separate company under Companies Act, 2013, before <\/span><span dir=\"ltr\" role=\"presentation\">commencement of investment under this scheme. Investment made in anticipation after 24th September <\/span><span dir=\"ltr\" role=\"presentation\">2021 may be taken into account to meet investment criteria.<\/span><\/span><span id=\"page1R_mcid6\" class=\"markedContent\"><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of textiles in view of the various representations received from the industry regarding requirement to form anew company and investment <\/p>\n","protected":false},"author":8808,"featured_media":154904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[],"class_list":["post-262268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - 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These fare bands came into force with effect from 21st\u00a0May, 2020. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The daily passenger traffic has reached 2.05 lakh on 1st November, 2020. 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