Interest Subsidy Scheme for Smaller Business Units
State: Goa
Ministry: null
Department: Information and Publicity Department
Category: Skills & Employment, Business & Entrepreneurship
Beneficiary Type: Business Entity

Launched in 2018, the "Internet Subsidy Scheme" is one of the "Information Technology Policy Schemes" by the Department of Information Technology, Government of Goa. The objective and the scope of this scheme is to provide Internet Subsidy to the eligible Information Technology Units in Goa.

Benefits:
For Smaller Business Units, interest subsidy on working capital loan will be provided, subject to a maximum of ₹ 5,00,000 per annum, for a period of 3 years. 
**NOTE 1:** 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.
**NOTE 2:** This incentive is allowed to be claimed once every fiscal year, up to a maximum of 3 years.

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.

Application Process:
[Online]
Step 1: Visit the Official Web Portal of Goa Online. At the top right corner, click "Register".
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 TimelineIncentive 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

Documents Required:
1. Copy of Incorporation Certificate
2. Copy of new unit registration document/certificate
3. Copies of PAN, Aadhaar and GST TIN
4. Memorandum and Articles of Association
5. Copy of first bill generated showing the date of commencement of operations or other relevant document
6. Copy of original loan agreement showing terms of the said loan, principal amount, rate of interest and other relevant details
7. Copies of receipts/bank statements/demand drafts or other supporting document as proof of payment of interest for said period
8. Udyog Aadhaar.