Bare Act Search Results

The Sikkim Industrial Promotion & Incentive (Amendment) Act, 2003 Complete Act

State: Sikkim

Year: 2003

.....means separately identifiable investment made by an existing industrial unit in the fixed capital assets to set up a project for manufacturing of new products (s) provided that the additional investment in the fixed assets is not less than 25% of the gross fixed capital and increase of additional employment is at least by 10%. (ddd) "Expansion" of an industrial units means additional fixed unit. For the purpose of calculation, Gross value of all the capital investment made on land, building and plant machinery of the existing unit will be taken into consideration. Expansion shall also imply an increase of at least 25% in the existing installed capacity as well as increase of additional employment of at least by 10% . Prior to going for expansion, the units should be operating at least at a minimum of 80% capacity during the three previous years." (ii) after clause (e), the following clause shall be inserted, namely:- "(ee) "Modernization" means separately identifiable investment made by an existing industrial unit in the fixed capital technology having a definite advantage in reduction of cost of production provided that the additional investment in the fixed.....