Special Incentive Allowance Scheme

Key Features

• Performance-Based Incentive - The scheme provides financial support to IT companies that demonstrate measurable growth and operational expansion. This ensures that incentives are granted to enterprises contributing to economic development and employment generation in Goa.
• Eligibility for New and Existing Units - Both newly established IT units and existing IT companies operating in Goa are eligible to apply for the scheme, ensuring that businesses at different stages can benefit.
• Three-Year Incentive Period - Eligible units receive the special incentive allowance for a period of three years, encouraging sustained growth and operational stability.
• Business Category-Based Incentive - The incentive amount depends on the classification of the business as Smaller Business Unit, Other Business Unit, or Mega Business Unit, allowing support to companies of varying scales.
• Employment and Growth Criteria - Companies must meet minimum performance indicators such as annual revenue growth, employee headcount requirements, percentage of Goan employees, and female workforce participation.
• Committee-Based Evaluation - Applications are reviewed by the Due Diligence Committee, and final decisions are taken by the Empowered Committee, ensuring transparency and accountability in incentive allocation.

Financial Assistance

Eligibility Criteria

To avail benefits under the Special Incentive Allowance Scheme:

• The IT unit must have operations located in Goa.
• Eligible applicants may be:
  -Proprietorship Firm
  -Private Limited Company incorporated under the Companies Act, 2013
  -Public Limited Company incorporated under the Companies Act, 2013
  -Registered Partnership Firm under the Indian Partnership Act, 1932
  -Limited Liability Partnership under the LLP Act, 2008
• Bank accounts of the unit and its partners/directors must be linked to Aadhaar.
• The applicant must have updated Udyog Aadhaar details.
• The number of employees must have been calculated based on employees working for more than 12 months during the year.
• Expansion employees must have joined at least one year prior to the date of application.
• Units receiving similar financial incentives under another Goa Government policy are not eligible.
• Benefits are subject to budget allocation.

Minimum Performance Criteria

Documents Required

1. Copy of Incorporation Certificate
2. Copy of new unit registration document/certificate
3. Copies of PAN, Aadhaar, and GSTIN
4. Memorandum and Articles of Association
5. First bill generated showing commencement of operations or other relevant document
6. Details of employees, including percentage of employees of Goan origin and number of female employees
7. Income Tax Returns of the unit for all years covered in the application period showing net income and annual growth rate
8. Certified copy from auditor verifying reported income for the period claimed
9. Employee certification documents showing name of employee, issuing authority, type of certification, date obtained, and validity
10. Quality certification documents completed by the unit showing certification authority, level of certification, and validity

Application Process

Option 1: Apply with Bullit, Recommended

Start instantly with our guided application support, where our team verifies eligibility, prepares documentation, and coordinates with the Industries Department on your behalf. Using our business loans and compliance calendar, you can track progress while focusing on project execution, we manage the application end-to-end.

Option 2: Apply Online / Offline (Government Process)

1. Submit Application Form - Applicants must submit the Common Application Form (Part 1) along with supporting documents via email or through the official web portal.
2. Registration Number Generation - A unique registration number is generated for each IT unit by the Department of Information Technology.
3. Submit Incentive Claim Forms - Applicants must submit Common Application Form (Part 2) and incentive-specific forms along with required documents to the Due Diligence Committee.
4. Committee Evaluation - The committee reviews the application and recommends eligible cases to the Empowered Committee.
5. Approval and Disbursement - Based on evaluation, the approved incentive amount is sanctioned and disbursed.
6. Claim Timeline - Applications can be submitted quarterly, bi-annually, or annually after incurring the expenditure.