- Scheme for extending financial assistance to sugar mills for enhancement and augmentation of ethanol production capacity
Notification number – 1(10)/2018-SP-I
Dated – 22.04.2022
The Central Government with a view to increase production of ethanol and its supply under Ethanol Blended with Petrol (EBP) Programme, especially in the surplus season and thereby to improve the liquidity position of the sugar mills enabling them to clear cane price arrears of the farmers notified the scheme namely ―Scheme for extending financial assistance to sugar mills for enhancement and augmentation of ethanol production capacity. Thereafter schemes for extending financial assistance to sugar mills & molasses based standalone distilleries for enhancement and augmentation of ethanol production capacity were notified.
A window was opened for 30 days for inviting applications under the scheme from molasses based stand alone distilleries and from sugar mills. Further, the Central Government, notified a modified scheme namely- ―Scheme for extending financial assistance to project proponents for enhancement of their ethanol distillation capacity or to set up distilleries for producing 1st Generation (1G) ethanol from feed stocks such as cereals (rice, wheat, barley, corn & sorghum), sugarcane, sugar beet etc.
Now, the Central Government has decided to open a window for six months w.e.f. date of this Notification under modified scheme dated 14.01.2021 for inviting fresh applications from those project proponents who have acquired land for ethanol project and obtained Environmental Clearance (EC) for enhancement of their existing ethanol distillation capacity or to set up new distillery for producing 1st Generation (1G) ethanol from feed stocks such as cereals (rice, wheat, barley, corn & sorghum), sugarcane (including sugar, sugar syrup, sugarcane juice, B-heavy molasses, C-heavy molasses), sugar beet etc.
- CBDT amends Income Tax Rule 17C
Notification number – 42/2022-Income Tax
Dated – 22.04.2022
In exercise of the powers conferred by clause (xii) of sub-section (5) of section 11 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
- Short title and commencement.— (1) These rules may be called the Income-tax (10th Amendment) Rules, 2022. (2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Income-tax Rules, 1962, in rule 17C, after clause (va), the following clause shall be inserted, namely:-
“(vb) investment made by a person, authorised under section 4 of the Payment and Settlement Systems Act, 2007 (51 of 2007), in the equity share capital or bonds or debentures of Open Network for Digital Commerce Ltd, being a company incorporated under sub-section (2) of section 7 read with sub-section (1) of section 8 of the Companies Act, 2013 (18 of 2013), for participating in network based open protocol models which enable digital commerce and interoperable digital payments in India;”.