Incentives To Encourage Purchases From Local Suppliers Scheme
Category: Business & Entrepreneurship, Banking,Financial Services and Insurance
Level: State | State: Goa

Details:
The scheme "Incentives To Encourage Purchases From Local Suppliers Scheme" was launched by the Directorate of Industries, Trade and Commerce (DITC), Government of Goa. The scheme aims to encourage consumption through local purchases and encourage economies of ancillary units, local Micro, Small and Medium Enterprises (MSMEs) as also traders including those in Horticulture business/Food Processing. The scheme provides reimbursement to the extent of 2% of the cost of local purchases consumed by the eligible unit, up to a maximum of ₹5,00,000/- per year, and the unit may avail benefit for five consecutive years from the date of first application. The applications for this scheme are accepted annually, requiring the unit to apply in the specified format after the closure of every financial year.

Benefits:
Reimbursement to the extent of 2% of the cost of local purchases consumed by the eligible unit.
The maximum reimbursement is limited to ₹5,00,000/- per year.
Intended Use/Definition of Purchase
The local purchases mean every industrial input, including consumables, purchased from Goa (whether manufactured in Goa or not) except service.
The value excluding Goods and Services Tax (GST) shall be considered for the calculation.
Frequency and Validity
The unit may avail benefit under this scheme for five consecutive years from the date of the first application.
Benefit Disbursement
The benefits under this scheme are subject to budgetary allocation.
No Promissory Estoppel shall be applicable if benefits are discontinued in case allocation is exceeded.
Conditions
The applicant shall 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 the registers or holding discussions with the employed employees for ensuring proper utilisation of the financial incentives/subsidies granted by the State Government.
The applicant shall time to time or as and when required submit to the Directorate of Industries, Trade and Commerce all the necessary reports, information and documents specified under the scheme or as required or directed by the Directorate of Industries, Trade and Commerce (DITC).
If it is found that the information and documents submitted are incorrect, or the financial incentive was obtained by misrepresenting facts or submitting furnishing false information, the Government of Goa/Directorate of Industries, Trade and Commerce shall revoke the subsidy.
The applicant shall pay back to the government the financial incentives received, or the same shall be recoverable as arrears of land revenue under the provisions of the Land Revenue Code 1968 and/or the Goa, Daman, Diu Public (Recovery & Dues) Act 1986.
In the event of breach of any of the terms and conditions of this Declaration, the Government shall be entitled to recover the said financial incentives as arrears of land revenue under the provisions of the Land Revenue Code 1968 and/or the Goa, Daman, Diu Public (Recovery & Dues) Act 1986.


Eligibility Criteria:
- The industrial unit must be under the white, green, or orange category.
- The industrial unit must be a micro/small or medium manufacturing unit.
- The applicant must purchase a minimum 50% (in value) of its raw material/ component/ tools etc. (input requirement for production) from local sources/ manufacturers.
- The applicant must be registered under the Umbrella Scheme (Goa State Incentives to Encourage Investments Scheme).
- The applicant must not have claimed similar benefit under any other scheme/program of the Government of Goa.