This well -known government plan can provide your work on Lakhs in hidden tax advantages

Indian companies that created research and development units at home can open a basket of hidden tax exemptions-from zero customs duties on imported machines to a 100 % decrease on new equipment-if the recognition of the recognition by the Ministry of Governmental Scientific and Industrial Research (DSIR) was highlighted, Sarthak Ahuja is highlighted in the LinkedIn publication.

DSIR manages a plan for recognition that gives companies a great cost of their research on research. Among the benefits of the title:

• Imports free from customs duties for machinery and equipment.
• 5 % commodity tax and services discrimination on capital goods and materials, even if standard rates are higher.
• 100 % decrease in the first year on search and development equipment qualifications.

“These benefits apply to all the products purchased for an internal R&D unit,” AHUJA books, confirming that more companies can use the plan to reduce costs while enhancing innovation.

Specific eligibility requirements:

• The applicant must be a company according to the Companies Law, under employment for at least three financial years, with regular income for two years.
• It should work in manufacturing, production or artistic research.
• You should set aside at least 1,000 square feet for the dedicated research and development activity, as well as separate employees, buildings and unit accounts.

Applications are submitted directly to DSIR via email (RDI-FRESHESHESHEGOV.IN) using the review menu available in DSIR.gov.in. Confession usually takes about six months.

While few companies are aware of the plan, experts say it can greatly reduce capital costs and make the ecosystem for innovation in India more competitive in the world.