Extension of Timeline for Submission of Subsidy Claim under the SCLCS

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Extension of Timeline for Submission of Subsidy Claim under the SCLCS

The Ministry of MSME has extended the timeline for submission of a subsidy claim under the Special Credit Linked Capital Subsidy Scheme (SCLCS)  vide a Notification dated 16th April 2021.  National SC-ST Hub Cell has received several references from SC/ST MSEs requesting an extension of a timeline as they were unable to submit their applications within the prescribed timelines. Considering the requests received, an opportunity has been given to the applicant SC/ST MSEs. The concerned nodal banks/agencies are hereby notified that fresh subsidy claims under SCLCS for all the four quarters (i.e., Q1, Q2, Q3, and 04) of FY 2020-2021 are to be submitted through the existing Online Application and Tracking System of DC-MSME.

Synopsis of Notification

National SC-ST Hub Cell has received several references from SC/ST MSEs requesting an extension of a timeline as they were unable to submit their applications within the prescribed timelines.

  • Considering the requests, an opportunity has been given to the applicant SC/ST MSEs who could not submit their claims within SSCLCSSwithin the due timelines for Ql, Q2, and Q3 of FY 2020-2021.
  • Because of the above, all the concerned nodal banks/agencies are hereby notified that fresh subsidy claims under SSCLCSSfor all the four quarters (i.e., Q1, Q2, Q3, and 04) of FY 2020-2021 are to be submitted through the existing Online Application and Tracking System of DC-MSME.
  • A separate window in the existing system (MIS) is operational now for submitting applications under SCLCSS.
  • The Ministry also informed that Login ID and Password will remain the same.
  • The claims under SSCLCSSwill be settled by NSIC with budgetary support available under NSSH.
  • The claims about Q1, Q2, and Q3 of FY 2020-21 submitted by SC/ST MSEs as per earlier timelines shall also be considered.

Special Credit Linked Capital Subsidy Scheme (SCLCSS)

Special Credit Linked Capital Subsidy Scheme (SCLCSS) has been introduced under the National SC-ST Hub to facilitate technology up-gradation in MSEs by providing an upfront capital subsidy.

As part of the scheme, a 25% capital subsidy with an overall investment ceiling of Rs.1 crore without any restriction on the sectors or machinery & technology for SC/ST enterprises is provided

Timelines for submission of Subsidy claims under SCLCSS

Timelines for Subsidy claims under Special Credit Linked Capital Subsidy Scheme (SCLCSS) for SC-ST MSEs for FY 2020-2021 are as follows. Claims about Q1, Q2, and Q3 of FY 2020-2021 submitted by SC-ST MSEs as per earlier timelines shall also be considered

Financial Year Reference Date Period of Submission of claims Timeline for submission of completed claims
PLI to Nodal Bank / Agency Nodal Bank / Agency to NSIC
2020-2021

01.04.2020 to 31.03.2021

(Q.1, Q.2, Q.3 and Q.4 of FY 2020-21)

26.04.2021 to 03.05.2021

From 04.05.2021 to 13.05.2021

During this period, Nodal Banks / Agency can also return the claims to PLIs for rectification, if any, and PLIs can also resubmit such claims to Nodal banks / Agency

Nodal Banks / Agency can also forward the claims to NSIC

No fresh claims will be accepted by PLIs during this period

From 14.05.2021 to 25.05.2021

 

Only Nodal Banks / Agency can submit the claims to NSIC.

Application Procedure for submission of Subsidy claims

The procedure to submit the Subsidy claims for Special Credit Linked Capital Subsidy Scheme (SCLCSS) is as follows:

  • To claim subsidy under CLCSS, eligible MSEs are required to apply online through Primary Lending Institutions (PLIs), from where the MSEs Avail term loan.
  • The completed application is being uploaded by the PLI through the Online Application and Tracking System to the attached Nodal Agency which, in turn, recommends the application online to the Office of DC (MSME) for release of subsidy.
  • After processing of the application and subject to availability of funds, due approval is accorded from the Competent Authority with the concurrence of Internal Finance Wing, after which funds are released to Nodal Agencies.
  • Funds are then transferred by the Nodal Agencies to the place where the account of the MSE is operated.

 

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Renu is experience content writer specialised in compliances and company rules.