The reported net income considered for the 5% performance grant is derived from the Income Tax Returns of the Unit. It encompasses the net income highlighted in these returns for all the years covered in the claimed period. The certified copy from the auditor or Chartered Accountant further certifies the accuracy of this reported income.

The cap of ₹ 25,00,000 serves as an upper limit on the performance grant, ensuring that regardless of the calculated 5% of the reported net income, the grant does not exceed this specified amount. This is a crucial detail to consider when assessing the potential benefits and limitations of the policy.

The guideline stipulates a record growth of 15% y-o-y turnover for any three consecutive years. In the event of a decline in turnover for one of these years, it may impact the eligibility. However, it's recommended to carefully review the specific circumstances, as exceptions or considerations might apply based on the nature and context of the decline.

You can access the comprehensive Scheme Guidelines, which provide intricate details and instructions, at the following web address: https://www.goa.gov.in/wp-content/uploads/2020/08/ITPolicySchemes2018.pdf

The guidelines do not mention any provision for compensation in the event of delayed disbursement of scheme benefits.

This scheme is exclusively available to permanent residents of the state. Applicants from neighboring states, among others, are not eligible to apply.

The link to the Official Web Portal of Goa Online is https://goaonline.gov.in/

The timeline for the Application approval by the Empowered Committee is 90 days from the receipt of the Application.

The full form of GST TIN is Goods and Services Tax - Tax Identification Number.

The benefits under this scheme are subject to budgetary allocation. No Promisory Estoppel shall be applicable if benefits are discontinued in case allocation is exceeded.

Yes, in order to be eligible to apply for this scheme, the New and Existing Units must have their operations in Goa.

Goa's IT Policy envisages Goa as an aspirational geographical and human resource base for IT Units and a preferred destination for their investment and expansion.