Capital Investment Subsidy Scheme
Information and Publicity Department
Last updated:
Overview
Launched in 2018, the "Capital Investment Subsidy Scheme" is one of the "Information Technology Policy Schemes" by the Dept of Information Technology, Govt of Goa. The objective and the scope of this scheme is to provide Capital Investment Subsidy to the eligible Information Technology Units in Goa.
Details
Launched in 2018, the "Capital Investment Subsidy Scheme" is one of the "Information Technology Policy Schemes" by the Department of Information Technology, Government of Goa. The objective and the scope of this scheme is to provide Capital Investment Subsidy to the eligible Information Technology Units in the State of Goa. All the New and Existing Units having their operations in Goa are eligible. The scheme has been framed as a part of Goa's IT Policy that envisages Goa as an aspirational geographical and human resource base for IT Units and a preferred destination for their investment and expansion.
Exclusions
• The Units availing similar financial incentives under any other policy of the Government of Goa are not eligible for availing benefits under this scheme.
Benefits
• 1. Capital investments do not include investments made towards land and building, if any, by the applicant.
• 2. All New Units developing office spaces will be eligible for a capital investment subsidy up to 20% on the capital investments made during the tenure of the Scheme.
• 3. An additional 10% subsidy on the capital investments made will be provided in case of the establishment of Mega Business Units.
• 4. All Existing Units, which qualify as Mega Units, are also eligible for a capital investment subsidy up to 20% of the capital investment incurred in the last 3 years prior to the date of notification of this policy.
• 5. An additional 10% subsidy on capital investments will be provided for the establishment of office spaces for the industries identified as key focus areas for the Government.
• 6. Based on the number of employees of Goan origin or Goan Graduates, the percentage of incentives under clauses 2.2, 2.3, 2.4, and 2.5 above shall be disbursed on a pro-rata basis as under:
• Upto 30% of employees on rolls of the company: 50%
• 30% to 60% employees on rolls of the company: 75%
• More than 60% of employees on rolls of the company: 100%
• *To avail of the benefits of the scheme, employees should be on the rolls of the company for a minimum period of one year.
• 7. In case of any expansions, the unit can avail of the investment subsidy provided it meets the criteria of the Expansion Unit. New employees of the expansion should be on the rolls for at least one year prior to the date of the application.
• 8. The maximum rebate under this provision would be as follows:
• Smaller Business Units – ₹10,00,000
• Other Business Units – ₹50,00,000
• Mega Business Units – ₹1,00,00,000
• NOTE: The benefits under this scheme are subject to budgetary allocation. No Promissory Estoppel shall be applicable if benefits are discontinued in case the allocation is exceeded.
Eligibility Criteria
1. All the New and Existing Units must have their operations in Goa.
2. The applicant must be one of the following -
3. - Proprietorship Firm
4. - Private Limited Company incorporated under the Companies Act, 2013 (or equivalent)
5. - Public Limited Company incorporated under the Companies Act, 2013 (or equivalent)
6. - Registered Partnership Firm incorporated under the Indian Partnership Act, 1932 (or equivalent)
7. - Limited Liability Partnership incorporated under the Limited Liability Partnership Act, 2008 (or equivalent).
8. The bank accounts of the unit and/or its partner(s)/director(s) should be linked to Aadhaar.
9. For a said office space, a unit can avail of capital investment subsidy only if the unit has operated from the said office space for more than two years.
Application Process
Step 1: Step 1: Visit the Official Web Portal of Goa Online. At the top right corner, click "Register".
Online
Step 1: Visit the Official Web Portal of Goa Online. At the top right corner, click "Register".
Step 2: Step 2: On the next page, verify your Email ID and Mobile Number using OTP. You will be redirected to the Registration Page.
Online
Step 2: On the next page, verify your Email ID and Mobile Number using OTP. You will be redirected to the Registration Page.
Step 3: Step 3: On the Registration Page, fill in all the mandatory fields of the registration form. Create a Login Name and a strong Password. Carefully read the Declaration and the Terms & Conditions, and tick the checkboxes. Fill in the Captcha Code, a…
Online
Step 3: On the Registration Page, fill in all the mandatory fields of the registration form. Create a Login Name and a strong Password. Carefully read the Declaration and the Terms & Conditions, and tick the checkboxes. Fill in the Captcha Code, and click "Register/Signup".
Step 4: Step 4: Login to the website using your Login Name and Password. Fill in the Captcha Code, and click "Login".
Online
Step 4: Login to the website using your Login Name and Password. Fill in the Captcha Code, and click "Login".
Step 5: Step 5: In the top ribbon, click on "Services", then click on "IT Services". Click on the name of the scheme. You will be taken to the application form for the scheme. Fill in all the mandatory fields and upload all the mandatory documents.
Online
Step 5: In the top ribbon, click on "Services", then click on "IT Services". Click on the name of the scheme. You will be taken to the application form for the scheme. Fill in all the mandatory fields and upload all the mandatory documents.
Step 6: Step 6: Submit the application. A unique registration number will be generated. Note this number for future reference.
Online
NOTE: The applicant can apply for this scheme on a quarterly/bi-annually/annual basis after incurring the relevant expenditure.
Incentive Application Receipt: D
Application scrutiny as per checklist: D+30days
Application approval by the Empowered Committee: D+60 days
Issue of Regret Letter/Sanction Orders and Disbursement: D+90 days
Required Documents
• Copy of Incorporation Certificate.
• Copy of new unit registration document/certificate.
• Copies of PAN, Aadhaar, and GST TIN.
• Memorandum and Articles of Association.
• Copy of first bill generated showing the date of commencement of operations or other relevant document.
• Occupancy certificate from developer/local authority for said office space.
• 3 year business plan / detailed project report (DPR) with projected investment and employment targets. Business plan will be used as part of the evaluation for payment of subsequent installments of the subsidy.
• Details of employees and percentage of employees of Goan origin.
• Proof of employment for the employees on the rolls for over 12 months (copy of PF contribution or salary slip or other relevant document).
• Contractor agreements, purchase orders, and other supporting documents for capital investment made.
• Receipts or other proof of payment for items listed above.
• Certified copy from the auditor or Chartered Accountant certifying the investments made.
• Udyog Aadhaar for the applicant unit.
Frequently Asked Questions
Q: What is the primary objective of the "Capital Investment Subsidy Scheme" launched in 2018 by the Department of Information Technology, Government of Goa?
A: The scheme aims to provide Capital Investment Subsidy to eligible Information Technology Units in the State of Goa, fostering investment and expansion.
Q: Can a Limited Liability Partnership incorporated under the Limited Liability Partnership Act, 2008, qualify as an applicant for the scheme?
A: Yes, a Limited Liability Partnership is eligible, provided its bank accounts are linked to Aadhaar.
Q: What is the minimum duration a unit must operate from a specific office space to avail capital investment subsidy according to the scheme?
A: A unit can avail the subsidy only if it has operated from the said office space for more than two years.
Q: Are units availing similar financial incentives under other Government of Goa policies eligible for benefits under the "Capital Investment Subsidy Scheme"?
A: No, units availing similar incentives under any other policy are excluded from this scheme.
Q: How are capital investments defined in the context of the scheme, and are investments in land and building included?
A: Capital investments exclude investments in land and building. Investments in other eligible areas qualify for the subsidy.
Q: What percentage of capital investment subsidy is provided to New Units developing office spaces during the scheme tenure?
A: New Units developing office spaces are eligible for a 20% capital investment subsidy.
Q: Explain the criteria for additional subsidy provided to Mega Business Units under the scheme.
A: Mega Business Units receive an extra 10% subsidy on capital investments made during the scheme period.
Q: How is the percentage of incentives under the scheme disbursed based on the number of employees of Goan origin or Goan Graduates?
A: Disbursement is pro-rata: Up to 30% of employees - 50%, 30% to 60% of employees - 75%, and more than 60% of employees - 100%.
Q: What is the minimum period employees need to be on the rolls to qualify for the incentives under the scheme?
A: Employees should be on the rolls for a minimum period of one year to avail benefits.
Q: What are the maximum rebate amounts for Smaller Business Units, Other Business Units, and Mega Business Units under the scheme?
A: Smaller Business Units - [?]10,00,000, Other Business Units - [?]50,00,000, Mega Business Units - [?]1,00,00,000.
Q: Are the benefits under the "Capital Investment Subsidy Scheme" subject to any condition related to budgetary allocation?
A: Yes, benefits are subject to budgetary allocation, and no Promissory Estoppel applies if benefits are discontinued due to exceeding the allocation.
Q: Outline the step-by-step application process for the "Capital Investment Subsidy Scheme."
A: Register on Goa Online, verify details, login, select IT Services, choose the scheme, fill the application form, upload documents, and submit.
Q: What is the timeline for the disbursement process, from the application receipt to the issuance of Regret Letter/Sanction Orders and Disbursement?
A: Incentive Application Receipt: D, Application scrutiny: D+30 days, Approval by Empowered Committee: D+60 days, Disbursement: D+90 days.
Q: Explain the conditions for reimbursement tranches for companies under the scheme.
A: Rebate will be reimbursed in three tranches post Commercial Operation Date or from the date of policy notification, whichever is later.
Q: What evaluation criteria are units subject to at the end of each installment period for eligibility in the next installment?
A: Units are evaluated to verify eligibility for the next installment based on the set criteria.
Q: How often can an applicant apply for the "Capital Investment Subsidy Scheme" after incurring relevant expenditure?
A: The applicant can apply quarterly/bi-annually/annually after incurring relevant expenditure.
Eligibility Criteria
All the New and Existing Units must have their operations in Goa.
The applicant must be one of the following -
- Proprietorship Firm
- Private Limited Company incorporated under the Companies Act, 2013 (or equivalent)
- Public Limited Company incorporated under the Companies Act, 2013 (or equivalent)
- Registered Partnership Firm incorporated under the Indian Partnership Act, 1932 (or equivalent)
- Limited Liability Partnership incorporated under the Limited Liability Partnership Act, 2008 (or equivalent).
The bank accounts of the unit and/or its partner(s)/director(s) should be linked to Aadhaar.
For a said office space, a unit can avail of capital investment subsidy only if the unit has operated from the said office space for more than two years.
Benefits
1. Capital investments do not include investments made towards land and building, if any, by the applicant.
2. All New Units developing office spaces will be eligible for a capital investment subsidy up to 20% on the capital investments made during the tenure of the Scheme.
3. An additional 10% subsidy on the capital investments made will be provided in case of the establishment of Mega Business Units.
4. All Existing Units, which qualify as Mega Units, are also eligible for a capital investment subsidy up to 20% of the capital investment incurred in the last 3 years prior to the date of notification of this policy.
5. An additional 10% subsidy on capital investments will be provided for the establishment of office spaces for the industries identified as key focus areas for the Government.
6. Based on the number of employees of Goan origin or Goan Graduates, the percentage of incentives under clauses 2.2, 2.3, 2.4, and 2.5 above shall be disbursed on a pro-rata basis as under:
Upto 30% of employees on rolls of the company: 50%
30% to 60% employees on rolls of the company: 75%
More than 60% of employees on rolls of the company: 100%
*To avail of the benefits of the scheme, employees should be on the rolls of the company for a minimum period of one year.
7. In case of any expansions, the unit can avail of the investment subsidy provided it meets the criteria of the Expansion Unit. New employees of the expansion should be on the rolls for at least one year prior to the date of the application.
8. The maximum rebate under this provision would be as follows:
Smaller Business Units – ₹10,00,000
Other Business Units – ₹50,00,000
Mega Business Units – ₹1,00,00,000
NOTE: The benefits under this scheme are subject to budgetary allocation. No Promissory Estoppel shall be applicable if benefits are discontinued in case the allocation is exceeded.
Required Documents
| # | Document |
|---|---|
| 1 | Copy of Incorporation Certificate. |
| 2 | Copy of new unit registration document/certificate. |
| 3 | Copies of PAN, Aadhaar, and GST TIN. |
| 4 | Memorandum and Articles of Association. |
| 5 | Copy of first bill generated showing the date of commencement of operations or other relevant document. |
| 6 | Occupancy certificate from developer/local authority for said office space. |
| 7 | 3 year business plan / detailed project report (DPR) with projected investment and employment targets. Business plan will be used as part of the evaluation for payment of subsequent installments of the subsidy. |
| 8 | Details of employees and percentage of employees of Goan origin. |
| 9 | Proof of employment for the employees on the rolls for over 12 months (copy of PF contribution or salary slip or other relevant document). |
| 10 | Contractor agreements, purchase orders, and other supporting documents for capital investment made. |
| 11 | Receipts or other proof of payment for items listed above. |
| 12 | Certified copy from the auditor or Chartered Accountant certifying the investments made. |
| 13 | Udyog Aadhaar for the applicant unit. |
How to Apply
Step 1: Visit the Official Web Portal of Goa Online. At the top right corner, click "Register".
Online Step 1: Visit the Official Web Portal of Goa Online. At the top right corner, click "Register".
Step 2: On the next page, verify your Email ID and Mobile Number using OTP. You will be redirected to the Registration Page.
Online Step 2: On the next page, verify your Email ID and Mobile Number using OTP. You will be redirected to the Registration Page.
Step 3: On the Registration Page, fill in all the mandatory fields of the registration form. Create a Login Name and a strong Password. Carefully read the Declaration and the Terms & Conditions, and tick the checkboxes. Fill in the Captcha Code, a…
Online Step 3: On the Registration Page, fill in all the mandatory fields of the registration form. Create a Login Name and a strong Password. Carefully read the Declaration and the Terms & Conditions, and tick the checkboxes. Fill in the Captcha Code, and click "Register/Signup".
Step 4: Login to the website using your Login Name and Password. Fill in the Captcha Code, and click "Login".
Online Step 4: Login to the website using your Login Name and Password. Fill in the Captcha Code, and click "Login".
Step 5: In the top ribbon, click on "Services", then click on "IT Services". Click on the name of the scheme. You will be taken to the application form for the scheme. Fill in all the mandatory fields and upload all the mandatory documents.
Online Step 5: In the top ribbon, click on "Services", then click on "IT Services". Click on the name of the scheme. You will be taken to the application form for the scheme. Fill in all the mandatory fields and upload all the mandatory documents.
Step 6: Submit the application. A unique registration number will be generated. Note this number for future reference.
Online NOTE: The applicant can apply for this scheme on a quarterly/bi-annually/annual basis after incurring the relevant expenditure. Incentive Application Receipt: D Application scrutiny as per checklist: D+30days Application approval by the Empowered Committee: D+60 days Issue of Regret Letter/Sanction Orders and Disbursement: D+90 days
Frequently Asked Questions
The scheme aims to provide Capital Investment Subsidy to eligible Information Technology Units in the State of Goa, fostering investment and expansion.