Parul
Companies selected under the production-linked incentive scheme (PLI) for white goods will have to submit a certificate from a registered cost accountant with regard to related party sales and computation of the arm’s length price for availing benefits of the scheme. Making certain changes in the guidelines of the PLI scheme for promoting domestic manufacturing of white goods (air conditioners and LED lights), the Department for Promotion of Industry and Internal Trade (DPIIT) said that the administrative ministry may also visit the manufacturing facilities to review the scheme’s progress, and directly solicit feedback from the industry.
Based on the requests and suggestions received from various applicants and industry associations and with a view to simplifying the operation of the scheme, the department has made certain revisions to the scheme guidelines issued by the DPIIT on June 4, 2021.
According to the department, regarding captive consumption and sales to related party, products sold to group company(ies) or used for captive consumption should be certified by a cost accountant, who is a member of the Institute of Cost and Management Accountants of India.
Similarly, the computation of the arm’s length price should be accompanied by a certificate from the cost accountant.
The revised guidelines also extend the deadline for filing claims from October 31 in the following financial year to which the claim pertains to January 15.
“In the event of any discrepancy observed between statutory compliances and records provided at the time of filing of claim(s) the applicant shall refund the excess incentive availed along with the interest,” it said.
Further, the department has increased the time limit by one year to three years to submit the details of the additional location with all relevant documents.
The scheme was approved with an outlay of Rs 6,238 crore. Companies which have been selected under this include Daikin, Panasonic, and Syska.
