Autoline Industries receives eligibility certificate for mega project under (PSI-2007)

Autoline Industries has received eligibility certificate for mega project under Package Scheme of Incentives, 2007 (PSI-2007) from Directorate of Industries, Government of Maharashtra vide its letter dated December 31, 2011.

The company is now entitled to the following - electrical duty exemption for the period of 7 years from the date of commencement of commercial production i.e. from November 1, 2009 to October 31, 2016, 100% exemption from payment of stamp duty under relevant government resolution of revenue and forest department.

Further, the company is also entitled for Industrial Promotion Subsidy (IPS), of Rs 77.38 crore equivalent to 75% of eligible investments of Rs 103.18 crore or to the extent of the amount of taxes payable under MVAT Act, 2002 and CST Act, 1956 by the project in respect of sale of finished products eligible for incentives after adjustment of set off or other credit available, within a period of 7 years, whichever is lower.

Autoline Industries is a manufacturer of pressed sheet metal automotive components and assemblies, and is engaged in design engineering for automotive original equipment manufacturers (OEMs) based in India, the US and Europe.