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The Tamilnadu Industrial Investment Corporation Ltd
(A Government Of Tamil Nadu Undertaking)
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How TIIC Improves Your Business?

TIIC fosters industrial development in Tamilnadu by providing financial assistance to industries for purchase of land, machinery and construction of buildings.

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Subsidy/Incentives for Medium / Large / Mega Industries.

Back Ended Capital Subsidy, Environmental Protection Infrastructure Subsidy and Soft Loan / Investment Promotion Subsidy:
Purpose
  • Granting Subsidy /Incentives for the investment made towards land, building, plant and Machinery, environment protection infrastructure equipments and Soft Loan /Investment  promotion subsidy for net output  VAT + CST paid to the Government for the Medium / Large / Mega projects set up in Tamil Nadu.
Eligibility
  • Investment in Eligible Fixed Assets ranging from Rs.5.00 crore to Rs.300.00 crore.
  • Direct Employment ranging from 100 to 300 employees.
  • Investment period ranging from 2 to 4 years.
Subsidy Amount
  • Backended Capital subsidy: Ranging from Rs.0.30 crore  to Rs.1.50 crores.
  • Environmental Protection Infrastructure Subsidy:  Rs.30.00 lakhs or 25% of capital cost to set up ETP and/or HWTSDF plant whichever is less. 
Additional Capital Subsidy
  • Additional Capital Subsidy /Incentives, ranging from 10% to 100%, over and above the eligible subsidy amount depending upon the location of the unit.
Soft Loan / Investment Promotion Subsidy for Net output  VAT + CST paid to the Government 

Depending upon the location of the unit, Soft Loan / Investment Promotion subsidy will be given for 10 years from the date of commencement of commercial production with a ceiling of 100% of investment made in Eligible Fixed Assets within the investment period. 

 

List of enclosures (whichever is applicable) to be submitted:

(all copies shall be duly attested by the Statutory Auditors/Chartered Accountant of the company/Chartered Engineer)

☛ MSME/ SIA Acknowledgement /ROC/Company Identification Number

☛ Partnership Deed and Firm Registration Certificate

☛ Memorandum & Articles of Association and Date of Incorporation Certificate.

☛ Sale deed/lease deed executed for the factory premises

☛ Building plan approval

☛ Industrial License as applicable

☛ TNPCB Clearance

☛ Invoices of the plant and machinery (imported & indigenous)

☛ T&C of term loan/working capital loan sanction, if any, extended by Bank/Financial Institution

☛ Certificate from Company’s Statutory Auditor / Chartered Accountant for the amount spent in Land, Building and             Plant & Machinery.

☛ Chartered Engineer’s Certificate for the investment made in Land, Building and plant and machinery.

☛ The date of commencement of commercial production for the new/expansion project duly certified Statutory Auditors / Chartered Accountant.

☛ First invoice raised along with certificate given by the Statutory Auditors / Chartered Accountant.

☛ Last 3 years Audited Balance Sheet and Profit and Loss Account along with the schedules

☛ The certificate issued by Statutory Auditor / Chartered Accountant for the employment of the direct workers.

☛ The documents for imported machinery such as copy of Letter of Credit, Bill of Entry, Bill of Lading, duty and details of clearing charges paid etc.

☛ Details of payments made to all vendors / suppliers / contractors for having settled in full and no vendor liability for the Eligible Fixed Assets.

Note:

  1. Chartered Engineers who are duly approved by the Institution of Engineers of India and enrolled as Panel Valuers with Income Tax Department / Nationalised Banks / Public Sector Insurance Companies will be eligible to give certificates.
  2. Practicing members of the Institute of Chartered Accountants of India will be eligible to give certificates.

Click  here to download the application

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