Incentives to Green Investment Scheme

Description
The “Incentives to Green Investment Scheme” was launched by the Directorate of Industries, Trade and Commerce DITC , Government of Goa. The scheme aims to give financial support to industrial units for adopting environmentally friendly equipment and processes, and to support the adoption of new technology and renewable energy aimed at conserving the use of natural resources. The scheme provides reimbursement for Water and Energy Audits and Capital Reimbursement for Energy Conservation Equipment. The applications for this scheme are accepted offline.

Exclusions
• The applicant must not have received benefits under the Capital Subsidy Scheme towards the purchase of energy conservation equipment, if claiming the Energy Conservation Equipment Capital Reimbursement under this scheme.
• Commercial loans not backed by any State/Central scheme where interest is less than 10% shall not be taken into consideration for calculating the total subsidy received due to a subsidized rate of interest.

Benefits
• Reimbursement of 25% of the cost of water and energy audits.
• Subject to a maximum of ₹1,00,000/- per unit during the validity of this scheme.
• Reimbursement of 40% of the capital cost incurred on the purchase of the equipment.
• Subject to ₹10,00,000/- per unit.
• A unit can avail this benefit multiple times, subject to the maximum ceiling mentioned above.
• This benefit shall be in addition to benefits availed under State and Central Subsidy Schemes.
• The total subsidy received by the applicant towards the purchase of the said equipment must not exceed 100% of the purchase value of the respective equipment.
• For the purpose of calculation, total subsidy includes: Subsidy under this scheme + Any other Subsidy received from Government of Goa/Government of India + Interest subsidy received/receivable under any soft loan or low interest loan availed for purchasing the said equipment under any State/Central Government scheme.
• Benchmark interest for calculating interest subsidy as received due to a subsidized rate of interest will be 10%.
• The benefits under this scheme are subject to budgetary allocation.
• No Promissory Estoppel shall be applicable if benefits are discontinued because allocation is exceeded.
• The applicant must allow and/or grant free access to any official authorized by the Directorate of Industries, Trade and Commerce for conducting inspection/supervision of the unit or registers or holding discussions with employed employees for ensuring proper utilization of the financial incentives/subsidies granted by the State Government.

Eligibility Criteria
1. - The applicant must be a manufacturing unit.
2. - The applicant must fall under the micro, small, medium, or large category.
3. - The applicant must ensure the water and energy audits, if claimed, are carried out by a recognised institution/consultant certified by the Bureau of Energy Efficiency, Ministry of Power and Government of India.
4. - The applicant must ensure the energy conservation equipment, if claimed, is certified as an energy conserving fixed asset of capital nature by a recognised institution/consultant certified by the Bureau of Energy Efficiency, Ministry of Power, Government of India.
5. - The applicant must ensure the total subsidy received (Subsidy under this scheme + Any other Subsidy received from Government of Goa/Government of India + Interest subsidy from soft loan/low interest loan schemes) does not exceed 100% of the purchase value of the respective equipment.
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Application Process
Step 1: The eligible unit must apply using the specified proforma, ensuring to include a self-declaration in the format provided.
The applicant must acquire documentary proof, such as the Water and Energy Audit report or certification for Energy Conservat…
Offline

The eligible unit must apply using the specified proforma, ensuring to include a self-declaration in the format provided.
The applicant must acquire documentary proof, such as the Water and Energy Audit report or certification for Energy Conservation Equipment, conducted/certified by a recognised institution/consultant certified by the Bureau of Energy Efficiency, Ministry of Power, Government of India.
The applicant must obtain a Certificate from a Chartered Accountant (CA) certifying the equipment purchase value, accompanying invoices, and detailing the quantum and percentage of all subsidies (including soft loans and interest paid thereon) related to the equipment.
The CA must also certify any benefits obtained under similar schemes of the Government of India.
The eligible unit shall submit the completed specified proforma along with all required documents and certificates to the Directorate of Industries, Trade and Commerce (DITC), Udyog Bhavan, Panaji.
The application will be scrutinised and recommended by the Task Force Committee (TFC), which includes the Member Secretary of Goa Energy Development Corporation or its representative.
The applicant must agree to grant free access for inspection/supervision by authorised officials of the Directorate of Industries, Trade and Commerce and submit necessary reports and documents as required.

Required Documents
• A Self-Attested Copy of Registration Under Umbrella Scheme.
• A Self-Declaration In the Format Provided.
• Documentary Proof For Water And Energy Audit Or Energy Conservation Equipment Certification.
• A Certificate from the Chartered Accountant Certifying the Purchase Value of the Equipment Along With Invoice Or Any Other Supporting Documents.
• A Certificate from the Chartered Accountant to the Effect Showing Quantum of All Subsidies Including Soft Loans Availed If Any And the Interest Paid Thereon, With Regard to Each of These Equipment.
• A Certificate from the Chartered Accountant Mentioning the Percentage of Subsidy Availed.
• Certificate from Chartered Accountant Certifying the Benefits Obtained Under Similar Schemes of Government of India (If Any).
• A Copy of Partnership Deed, Memorandum of Association/Articles of Association (As the Case May Be).

Frequently Asked Questions
Q: What specific type of industrial enterprises are eligible to apply for financial assistance under this program designed for environmentally friendly investments?
A: Manufacturing units that fall under the micro, small, medium, and large categories are eligible to avail the financial incentives provided under this scheme.
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Q: If my unit receives other forms of financial assistance from the State or Central Government, will the capital reimbursement benefit still be applicable?
A: Yes, the capital reimbursement benefit for energy conservation equipment is applicable in addition to benefits already availed under State and Central Subsidy Schemes.
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Q: What happens if the Government exhausts its budget allocation for incentives before my claim for financial support is processed or disbursed?
A: The provision of benefits is explicitly subject to budgetary allocation. If funds are discontinued because the allocation is exceeded, the principle of Promissory Estoppel shall not be applicable.
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Q: What exact percentage of the total costs incurred for carrying out water and energy audits is covered by the reimbursement offered under this program?
A: Units are entitled to a reimbursement equivalent to 25% of the entire cost associated with successfully completing the mandatory water and energy audits.
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Q: What formal certification must be secured for the purchased equipment to prove that it qualifies as an eligible energy conserving fixed asset of capital nature?
A: The equipment must be certified as an energy conserving fixed asset of capital nature by a recognised institution or consultant that is certified by the Bureau of Energy Efficiency, Ministry of Power, Government of India.
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Q: What is the highest total amount I can claim as reimbursement for costs incurred when undertaking water and energy audits for my premises?
A: The maximum reimbursement provided for the costs of water and energy audits is 25% of the expense, up to a ceiling of ₹1,00,000/- per unit during the scheme&#39;s validity.
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Q: What percentage of the capital cost incurred for purchasing equipment aimed at energy conservation is covered under the reimbursement program?
A: The unit is eligible for a reimbursement amount equal to 40% of the capital cost that was incurred for the purchase and utilization of the energy conservation equipment.
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Q: Can my manufacturing unit apply and receive the capital reimbursement for energy conservation equipment multiple times throughout the life of the scheme?
A: Yes, an eligible unit can utilize this benefit multiple times. However, all claims remain subject to the maximum ceiling specified for the capital reimbursement provision.
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Q: Is there a condition specifying the total overall limit of government benefits that my unit can receive toward the purchase of a single piece of equipment?
A: Yes, the cumulative total subsidy received from all sources (State, Central, and calculated interest subsidy) must not exceed 100% of the total purchase value of the respective equipment.
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Q: What are the exact dates delineating the official operational timeframe, including the commencement and expiration, for the availability of this specific incentive program?
A: The scheme officially came into force with effect from 1st October, 2017, and is set to remain operational for eligible units up to 30th September, 2022.
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Q: What is the maximum financial limit an eligible unit can receive as reimbursement towards the capital cost of purchasing energy conservation equipment?
A: The maximum financial assistance available for the purchase of energy conservation equipment is capped at 40% of the capital cost, subject to ₹10,00,000/- per unit.
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Q: Who must perform the required water and energy audits for my industrial facility to ensure the eligibility criteria are successfully met?
A: The audits must be carried out by a recognised institution or consultant that holds certification from the Bureau of Energy Efficiency, Ministry of Power, Government of India.
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Q: Are there any specific central or state subsidy schemes that would prevent my unit from claiming the capital reimbursement for energy conservation equipment?
A: Yes, a unit that has already received benefits under the Capital Subsidy Scheme towards the purchase of energy conservation equipment is specifically excluded from receiving this benefit.
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Q: If I availed a low-interest loan for the equipment purchase, what benchmark interest rate is utilized for determining the value of the interest subsidy received?
A: When calculating the notional interest subsidy value due to a subsidized rate, the scheme mandates that the benchmark interest rate used for comparison shall be 10%.
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