To provide additional working capital assistance to customers facing crunch in liquidity arising out of GST paid on purchases and input tax credit on the same not yet claimed / eligible for refund.
- Minimum CMR Rating upto CMR 5 in case of limits up to Es. 10.00 crores. In case CMR not available, minimum rating of BOB 6 in Greenfield projects and BOB 5 in other cases.
- Availing working capital limits of Rs. 25.00 lacs or above from our Bank under Sole/ Multiple consortium banking arrangement.
Quantum of Adhoc
Up to 80% of:
- Input tax credit under GST pending as on date which is to be claimed in future; and / or
- Input tax credit unutilized under GST where refund is to be applied / already applied to the concerned authority.
As per CA (Statutory Auditor of the firm / company) Certificate to that effect.
Disbursement shall be restricted against input tax credit pertaining to the immediately preceding quarter only, from the quarter in which request for disbursement is made (Jan-Mar, Apr-Jun, Jul-Sept., Oct-Dec.). For e.g. for disbursement request made anytime between 1st April to 30th June 2018, eligible input tax credit should pertain to January to March 2018 quarter only.
up to 15% over and above of the existing Fund Based Working Capital Limit
Maximum up to -9- months including maximum moratorium period up to -3- months.
Rate of Interest
Competitive pricing linked to Repo rate/MCLR