Section 2 in Assam Industries (Sales Tax Concessions) Act, 1986
2. Definitions.
- In this Act, unless the context otherwise requires:-(1)"Authorisation certificate" means a certificate granted under Section 4;(2)"New Industrial Unit" means an industrial unit for the setting up of which all the effective steps have been completed on or after the 15th October, 19982, but before the 31st March, 1990.Explanation. - For the purpose of this clause, effective steps for setting up an industrial unit shall be deemed to have been completed if the following steps have been completed in relation to the said unit:-(i)The unit shall be in effective possession of land;(ii)In the case of a firm or company or Co-operative Society or Trust, the registration of the firm or company or Society or Trust under the appropriate law shall be obtained;(iii)The unit shall obtain provisional Small Scale Industries Registration of Letter of Intent from the Government of India Intent from the Government of India and/or permission from the State Government for setting up of the unit, if such permission is required to be obtained under any order or law for the time being in force;(iv)In the case of a medium/large scale unit not covered by the Industries (Development and Regulations) Act, 1951 the unit shall apply for registration;(v)Industrial licence/registration shall be obtained in respect of the unit;(vi)Capital goods clearance, wherever necessary, shall be obtained;(vii)The means of finance for the project shall be completed to the satisfaction of the authority prescribed under sub-section (1) of section 4;(viii)Other clearance, if any, from the Central/State Government and/or other authorities concerned, for implementing the project shall be obtained;(ix)The unit shall acquire at site fixed assets to the extent of at least 10 per centum of the total fixed assets envisaged for the project;(x)The unit shall incur expenditure on the project including advances paid and preoperative expenses to the extent of at least 25% per centum of the capital cost envisaged for the Project; and(xi)In case of a project proposed to be implemented in suitable phases the first phase of the project itself involving Gross Fixed Capital investment exceeding Rs 5 crores:-(a)The meant of finance for the project shall be deemed to have been completed if the means of finance including equity contribution for the first phase of the project, have been tied up to the satisfaction of the authority prescribed under sub-section (1) of section 4;(b)It shall be deemed to be sufficient compliance with the conditions set out in sub-clause (ix) above if the unit has acquired at site fixed assets at least to the extent of 10% per centum of the fixed assets pertaining to the first phase of the project, and(c)Actual expenditure, including advances and pre-operative expenses, incurred on the project to the extent of 12% per centum of the capital cost of the first phase of the project shall be deemed to be sufficient compliance of the conditions set-out in clause (x) above;(3)"Prescribe" means prescribed by rules made under this Act;(4)"Sales tax laws" means;(a)The Assam Sales Tax Act, 1947 (Assam Act XVII of 1947);(b)The Assam (Sales of Petroleum and Petroleum Products including Motor Spirit and Lubricants) Taxation Act, 1955 (Assam Act IX of 1956);(c)The Assam Finance (Sales Tax) Act, 1956 (Assam Act XI of 1956), and(d)The Assam Purchase Tax Act, 1967 (Assam Act XIX of 1967).(5)"Section" means a section of this Act;(6)"State" means the State of Assam;(7)"State Government" means the State Government of Assam;(8)Terms and expression used but not defined in this Act shall, in relation to any of the sales tax laws specified in sub-clause (4) above, have the same meaning as defined in such laws.
