Package Incentive Scheme Of GOA:

Government of Goa has announced the industrial policy initiated by Directorate of Industries Trade & Commerce.

The industrial policy of Goa aims to hardness the human resources of the state, improve the quality of life of the citizens and preserve the pollution free environment of Goa. It aims to provide an efficient system of approvals wherever needed and give thrust to export oriented industries while encouraging foreign investments in the state. There is tremendous scope for promoting the tourism and service sectors and there is a constant effort to upgrade educational institutions to synergise with the increased sophistication in industrial growth.

The total Special Incentive will be limited to 70% /50% (backward talukas /other talukas respectively) of the total capital expenditure in the project, excluding the land cost. In order to be eligible for the incentives, the unit will need to employ a minimum of 80% Gaons.

The Goa government incentive scheme includes the following:

Subsidy on Fixed capital investment

• One of the most attractive incentive offered by Goa State Government is the 25% subsidy on fixed capital investment limited to Rs.25.00 lakhs. 
• Sales Tax exemption facility is thus available for a period of 15 years for small scale units and 12 years for large and medium scale.

Incentive Scheme for Electricity and water

• Supplied to customers less than 25% below the commercial tariff.
• The State Government is remitting 50% of the stamp duty paid under Stamp Duty Act in respect of bonds or mortgage deeds executed in favour of EDC, MSFC and scheduled commercial banks and lease deed documents in respect of allotment of plots and sheds by GDDIDC.

Additional State Government Scheme

• Subsidy to the extent of 50% of the cost of preparation of feasibility studies prepare by the Government industrial consultancy organisations.
• Loans are given by the Directorate Industries and Mines under the Goa State Aid to Industries act. Bridge loan to the extent of 50% of the margin is also given by Industries and Mines Department.
• Subsidy upto 50% of the cost of power generating sets (limited to a maximum of Rs. 1 lakh purchased by small scale units is given by the State Government.

Incentives By Central Government

• New units are totally exempted from payment of Income Tax for the first 5 years.
• Financial Corporation to the extent of 90% of loans sanctioned by financial institutions.
• Seed capital or margin money loan scheme is also operated by Small Industries Development Bank of India through EDC and MSFC to the extent of 20% of the cost of the project depending upon the merit of each case.
• Composite loan scheme to the artisans up to a maximum of Rs.50, 000/- is operated by EDC and MDFC for purchase of machinery and equipments as well as for working capital requirement.

Small Industries Service Institute

• Small Industries Service Institute has been granting 50% concession on its prescribed charges for the various consultancy services rendered by the Institute or the prospective and existing entrepreneurs
• 50% concession is also available to the job charges of its common facility workshop in general engineering located at the Institute’s premises of Quepem Road, Margao.
• Indigenous as well as imported machinery have been supplied to small scale entrepreneurs on hire purchase basis by NSIC. Being a backward area, terms and conditions are liberalized.

Eligibility Of Applicants

Any individual/group of individuals having innovative idea/Concept will be eligible.

State Incentive Scheme Services:

We provide you with the following services :-

• Paperwork and documentation
• Follow up and Licensing
• Issuance of eligibility certificate

Why Choose us for Goa PSI ?

We at KVRG FAS believe in providing excellence to help our clients to achieve their business goals and provide them quality services in the various fields. Our Turn Around Time (TAT) is just 15days.