- Details
- Benefits
- Eligibility
- Exclusions
- Application Process
- Documents Required
- Frequently Asked Questions
- Sources And References
- Feedback
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Goa
Land/Built-Up Area Rebate Scheme
Employee
Land
Office
Rebate
Details
Launched in 2018, the "Land/Built-Up Area Rebate Scheme" is one of the "Information Technology Policy Schemes" by the Department of Information Technology, Government of Goa. The scheme aims to provide Land / Built-up Area Rebate to the IT Industry in the state of Goa. All the New and Existing Units having their operations in Goa are eligible. A one-time rebate is provided for the purchase of Land for creating IT Office Space and for the purchase of Built-Up office space for IT operations.
Benefits
1. Purchase of Land for creating IT Office Space: A one-time rebate at ₹40,000 per male employee (₹50,000 per female employee) will be provided up to 60% of the cost of the land as determined by the Consideration Amount (value as defined in the Stamp Registration/ Sale Deed).
2. Purchase of Built-Up office space for IT operations: A one-time rebate will be provided up to 20% of the cost of the space as determined by the Consideration Amount (value as defined in the Stamp Registration/ Sale Deed).
NOTE 1: The maximum rebate under this provision for land purchased would be ₹1,50,00,000 and for the purchase of Built up space would be ₹1,00,00,000.
NOTE 2: A Unit can avail of any one of the above-mentioned rebate options. To avail of this rebate, the Units should have direct employment proportional to the built-up space created at the rate of up to 80 sq ft per employee. Direct employees should have been on the rolls of the unit for a minimum period of 12 months.
3. Based on the number of employees of Goan origin or Goan Graduates, the percentage of incentives under clauses 2.1 and 2.2 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 the rolls of the company: 100%.
4. For Existing Units, rebates may be claimed on transactions that are made up to 3 years prior to the notification of the policy.
5. For New Units, the rebate may be availed on transactions made post-notification of the policy. Prescribed guarantees would be taken from the sponsors of the project for the rebate.
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
1. All the New and Existing Units must have their operations in Goa.
2. The applicant must be one of the below:
- 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)
3. The bank accounts of the unit and/or its partner(s)/director(s) should be linked to Aadhaar.
4. The applicant unit shall be eligible for the benefits under this scheme only upon production of Udyog Aadhaar.
5. The unit can avail land/built-up area rebate only if the unit has operated from the said office space for a period of more than one year.
6. The employees should have been on the rolls of the company for a minimum period of one year.
7. To claim the incentive, the unit should achieve the targets (both investments and employment) mentioned in the business plan.
Exclusions
The Units availing similar financial incentives under any other policy of the Government of Goa are not eligible.
Application Process
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, and click "Register/Signup".
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.
Step 6: Submit the application. A unique registration number will be generated. Note this number for future reference.
NOTE: The applicant can apply for this scheme on a quarterly/bi-annually/annual basis after incurring the relevant expenditure.
Disbursement Timeline
- 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
NOTE 1: The rebate will be reimbursed to the companies in three tranches post Commercial Operation Date or from the date of notification of the policy, whichever is later.
NOTE 2: Units will be subject to evaluation at the end of each installment period to verify eligibility for the next installment.
Documents Required
Documents Required for Claiming the Rebate
- 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 the 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).
For Land Rebate
10. Sale deed or other ownership document for land purchased.
For Built-up Rebate
11. Sale deed or other ownership document for built-up office space purchased.
Common Documents
12. Nil encumbrance certificate for the said property.
13. Bank guarantee for an equal amount of the claim.
Documents Required to Be Uploaded With the Application
For Land Rebate
1. Sale deed for land purchased.
For Built-Up Rebate
2. Sale deed for Built-Up office space purchased.
Common Documents
3. 3-year business plan/ detailed project report (DPR) with projected investment and employment targets. This plan shall be used as part of the evaluation for payment of subsequent installments of the subsidy.
4. Nil encumbrance certificate for the said property.
5. Bank guarantee for an equal amount of the claim.
Frequently Asked Questions
What is the maximum rebate amount for the purchase of land under the "Land/Built-Up Area Rebate Scheme"?
The maximum rebate for land purchase is ₹1,50,00,000 as per the Stamp Registration/ Sale Deed value.
Can a unit avail both rebates for land and built-up office space simultaneously?
No, a unit can avail only one of the rebate options mentioned for land or built-up space.
How is the incentive percentage calculated based on the number of employees of Goan origin or Goan Graduates?
The percentage of incentives is calculated on a pro-rata basis, varying from 50% to 100% based on the employee composition.
What is the timeline for claiming rebates for Existing Units on transactions made before the policy notification?
Rebates for Existing Units can be claimed on transactions made up to 3 years prior to the policy notification.
What guarantees are required for claiming rebates for New Units after the policy notification?
Prescribed guarantees from the sponsors of the project are required for claiming rebates for New Units.
What is the eligibility criterion for a unit to claim benefits under the scheme?
Units must have operations in Goa and be one of the specified entities, as per the Information Technology Policy Schemes.
What is the linkage requirement for the bank accounts of the unit and/or its partners/directors?
The bank accounts should be linked to Aadhaar for the unit and/or its partner(s)/director(s).
How long should employees be on the rolls for a unit to claim the rebate?
Employees should be on the rolls for a minimum period of 12 months for the unit to claim the rebate.
What targets must a unit achieve to claim the incentives mentioned in the business plan?
The unit should achieve both investment and employment targets mentioned in the business plan to claim incentives.
What is the disbursement timeline for incentives under the scheme?
Incentives are disbursed in three tranches: D+90 days from application approval, subject to evaluation at the end of each installment period.
When can companies apply for the scheme after incurring relevant expenditure?
Companies can apply quarterly/bi-annually/annually after incurring the relevant expenditure.
How is the eligibility of units verified for subsequent installments of the subsidy?
The 3-year business plan with projected investment and employment targets is used for evaluation at the end of each installment period.
How is the rebate reimbursed to companies?
The rebate is reimbursed in three tranches post Commercial Operation Date or from the date of notification of the policy, whichever is later.
Can units claim rebates on transactions made before the policy notification?
Yes, Existing Units can claim rebates on transactions made up to 3 years prior to the notification of the policy.
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Check Eligibility
Goa
Land/Built-Up Area Rebate Scheme
Employee
Land
Office
Rebate
Details
Benefits
Eligibility
Exclusions
Application Process
Documents Required
Frequently Asked Questions
Launched in 2018, the "Land/Built-Up Area Rebate Scheme" is one of the "Information Technology Policy Schemes" by the Department of Information Technology, Government of Goa. The scheme aims to provide Land / Built-up Area Rebate to the IT Industry in the state of Goa. All the New and Existing Units having their operations in Goa are eligible. A one-time rebate is provided for the purchase of Land for creating IT Office Space and for the purchase of Built-Up office space for IT operations.
Was this helpful?
Share
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