| 1 | For claiming incentive under the Scheme, applicants will be required to submit claims for disbursement of incentive to the PMA. Applicants must ensure that the claims are complete in all respects and are accompanied by all the documents required as per prescribed format and made available on the online portal. |
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| 2 | An applicant may submit a claim for disbursement of incentive on annual basis. Claims for any period shall be made only once, unless withdrawn, and no subsequent part claims shall be allowed for the said period. |
| 3 | Claims for disbursement of incentive shall be filed along with supporting documents within one month of the closure of the given financial year. If the claim is found to be in order, 75% of it shall be released and the remaining 25% shall be released after submission of final audited accounts of the Company. |
| 4 | The PMA shall examine and verify eligibility and assess incentive payable to an applicant based on the method laid down in these guidelines and the approval letter issued to the applicant. |
| 5 | The PMA will have the right to verify any document(s) in relation to the claim for incentives including but not limited to Statutory Auditor or Independent Chartered Accountant certificates, whichever is applicable, and returns furnished to various Ministries/ Departments/ Agencies. The PMA shall also have the right to examine the end realization and settlement/ payments corresponding to sales and investment respectively by way of Statutory Auditor or Independent Chartered Accountant certificates, bank statements etc. to the extent deemed necessary. |
| 6 | In case of any doubt with respect to determining eligibility and incentive amount due, or any other matter in discharge of its duties and responsibilities, the PMA may refer such matter to DoP for clarification and the decision of DoP shall be final in this regard. |
| 7 | The PMA shall process claim for disbursement of incentive within 60 days from the date of receipt of such claim and make appropriate recommendations to DoP. |
| 8 | DoP will consider claims for disbursement of incentive, as examined and recommended by the PMA. |
| 9 | PMA shall disburse the incentive through direct transfer (via PFMS) after approval of the claim and completion of all pre-disbursal formalities by the applicant. |
| 10 | Applicants shall be required to reconcile sales of eligible products, based on which claims for disbursement of incentive have already been filed, with documents as prescribed by the PMA, by 31st of December of the financial year subsequent to which the claim pertains, for release of the remaining 25% of the incentive. |
| 11 | The PMA shall verify the aforesaid reconciliation. In case of excess claims disbursed, the applicant shall reimburse DoP for any incentive amount refundable along with interest calculated at 3 years SBI MCLR prevailing on date of disbursement, compounded annually (for the period between excess payment and date of refund by the applicant). |
| 12 | If the PMA or DoP is satisfied that eligibility under the Scheme and/ or disbursement of incentives have been obtained by misrepresentation of facts or falsification of information, DoP may ask the applicant to refund the incentives along with interest calculated at 3 years SBI MCLR prevailing on date of disbursement, compounded annually, after giving an opportunity to the applicant of being heard. In this regard, the applicants shall submit an undertaking in the prescribed format. |
