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What are the various incentives and concessions available to SSIs?
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Answer Posted / Neelam Saini
Small-scale industries (SSIs) in India enjoy several incentives and concessions designed to promote their growth and competitiveness. Some of these benefits include:
1. Exemption from income tax up to a certain limit for small enterprises with annual turnover less than INR 1 crore.
2. Access to low-interest loans through various government schemes, such as the Prime Minister's Employment Generation Program (PMEGP) and the Micro and Small Enterprises Cluster Development Program (MSECDP).
3. Exemption from customs duty on import of machinery for specific sectors.
4. Duty drawback facilities to help exporters recover duties paid on imported inputs.
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