Land/Built-Up Area Rebate Scheme
Category: Business & Entrepreneurship
Level: State | State: Goa

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 Criteria:
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.