Land/Built-Up Area Rebate Scheme
"Land/Built-Up Area Rebate Scheme" by the Dept. of IT, Govt. of Goa. The scheme aims to provide Land / Built-up Area Rebate to the IT Industry in the state of Goa. A one-time rebate for the purchase of Land for creating IT Office Space and for the purchase of Built-Up office space for IT operations.
About This Scheme
Benefits
₹40.0K · one-time
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).
₹1.5 Cr
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
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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 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).
✦ Required ◦ Optional
How to Apply
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
Quick Info
- Level
- Central Government
- Max benefit
- ₹1.5 Cr