Section 2 in Assam Industries (Tax Reimbursement for Eligible Units) Scheme, 2017
2. Definitions.
(a)'eligible unit' means, -(i)'existing unit' which commenced its commercial production or operation before 1st day of July, 2017 and was eligible to avail the benefit of partial or Full exemption front payment of VAT and/or central sales tax under the Industrial and Investment Policy of Assam, 2008 or under the Industrial and Investment Policy of Assam, 2014, as the case may be, and covered by the corresponding earlier schemes i.e. the earlier Assam Industries (Tax Exemption) Scheme, 2009 or the Assam Industries (Tax Exemption) Scheme, 2015 or any special notification issued pursuant to such Policy of 2008 or Policy of 2014;(ii)'expansion unit' which undertakes substantial expansion and commences its commercial production during the period commencing from 1st July, 2017 to 31st December, 2022 in terms of the eligibility criteria of Industrial and Investment Policy of Assam, 2014.Explanation. - "substantial expansion" means increase in value of initial fixed capital investment of a new or existing unit by at least 10% as well as increase in employment by at least 10% and at least 25% increase in production compared to average mutual production of previous 3 years. Prior to going for substantial expansion, the unit should be operating at least at an average of 75% of its installed total capacity during the period of 3 previous years:(iii)'new unit' which commences its commercial production/operation during the period commencing from 1st July, 2017 to 31st December, 2022 in terms of the eligibility criteria of Industrial and Investment Policy of Assam, 2014 and it includes hotels/resorts above 2-star category and river cruise.(b)'residual period' means the period remaining for availment of tax reimbursement on the date of commencement of the Assam Goods and Services Tax Act, 2017 out of the total period from the date of commencement of commercial production or Operation, as specified under the relevant earlier schemes, during which the eligible unit would have been eligible to avail exemption:(c)'un-availed quantum of monetary ceiling' means the remaining amount of monetary ceiling which has not been availed of or utilized by an eligible unit on the date of commencement of the Assam Goods and Services tax Act, 2017 out of the total amount of monetary ceiling of tax exemption calculated on the basis of certain percentage of capital investment as available to such unit under the relevant earlier schemes or special notifications.
