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EDC launches GST entrepreneurs scheme – GST Station

EDC launches GST entrepreneurs scheme

EDC launches GST entrepreneurs scheme

The government is looking at the goods and services tax (GST) as the opportunity to create self-employment among locals, as a result the EDC GST Entrepreneurs Scheme has been launched to promote entrepreneurship opportunity to locals taking up GST related support services.

The scheme will be operated by EDC and as a first step towards its implementation, a training programme in GST matters was launched which was successfully completed by about 600 persons. The training programme was conducted at EDC House.

The scheme envisages providing financial assistance to those individuals who had attended the GST training programme organised by EDC during the period August 7 to August 11, and those among them interested in setting up GST consultancy.

The scheme is applicable to graduates in Commerce with minimum 50 per cent marks in financial accounting, auditing and taxation (FAAT).

The scheme will provide financial assistance in the form of 75 per cent subsidy for acquiring equipments such as laptop, printers, etc, upto a maximum project cost of Rs 60,000.

The number of beneficiaries shall initially be limited to 100 and spread over the five cities of Panaji, Mapusa, Ponda, Vasco and Margao respectively.

The selection will be on first come first service basis, from amongst the eligible applicants only.

The scheme in additional to creating self-employment is also expected to reach out to a maximum number of GST covered business establishments and to help them for compliances.

Beneficiaries will be provided with rent-free premises to operate from for a period of one year, at each of the five mentioned cities.

Those interested in availing the assistance should visit the EDC website to check out the last date. Applications can also be submitted online.

A major problem being faced by GST tax payers in Goa is the scarcity of experts in filing returns. The EDC GST scheme is expected to plug the gap.

Source- Nvhind Times.