Mandatory Compliances for Private Limited Companies in Goa

Mandatory Compliances for Private Limited Companies in Goa

🏝 Introduction

Goa, India’s smallest state by area but one of the most dynamic in terms of tourism and commerce, has been steadily attracting entrepreneurs and investors. The combination of a thriving tourism industry, a growing IT services sector, and a favourable regulatory climate makes it a sought-after location for incorporating a Private Limited Company.

However, incorporating a company is only the first step. Every business entity, once incorporated, must follow mandatory statutory compliances prescribed under various laws, both at the central and state levels. In Goa, the compliance framework for private limited companies is influenced by the Companies Act, 2013, Income-tax Act, 1961, Goods and Services Tax laws, labour regulations, and state-specific legislations such as the Goa Shops and Establishments Act, 1973.

Non-compliance can lead to monetary penalties, legal notices, and even disqualification of directors. At Taxaj Corporate Services LLP, we believe in proactive compliance management so that companies focus on business growth while staying legally secure.


🏛 1. MCA/ROC Compliances under the Companies Act, 2013

The Ministry of Corporate Affairs (MCA) governs corporate entities through the Registrar of Companies (ROC). In Goa, the ROC office is located under the jurisdiction of ROC Mumbai, but the compliance rules are uniform across India.

📄 Annual ROC Filings

Every private limited company in Goa must file its annual returns and financial statements with the ROC in the prescribed e-forms:

These filings are compulsory, irrespective of whether the company has operated during the financial year.

📅 Board and General Meetings

Even a private company with minimal operations must comply with meeting requirements:

🧾 Maintenance of Statutory Registers

Companies must maintain updated records like:

These are subject to inspection by ROC officials during compliance checks.


💰 2. Income Tax Compliances

The Income-tax Department mandates filing and payment obligations for companies in Goa:

📝 Filing of ITR-6

Every private limited company must file Income Tax Return in ITR-6 form annually, even if it has no income or incurred losses.

📊 Tax Audit

If annual turnover exceeds the prescribed threshold (currently ₹1 crore for business or ₹50 lakh for professional income), a Tax Audit under Section 44AB is mandatory, requiring a report in Form 3CA/3CB and 3CD.

📆 Advance Tax

Companies with an estimated tax liability exceeding ₹10,000 must pay advance tax in quarterly instalments:

🏦 TDS (Tax Deducted at Source)

If the company makes payments like salaries, contractor charges, rent, or professional fees, it must deduct tax at source and deposit it with the government, followed by quarterly TDS returns in Form 24Q/26Q.


🛒 3. GST Compliances

If a Goa-based private limited company engages in the supply of goods or services exceeding the GST registration threshold (₹40 lakh for goods, ₹20 lakh for services; ₹10 lakh for special category states — Goa follows normal category), GST registration becomes mandatory.

📜 GST Returns

Post-registration, monthly/quarterly returns such as GSTR-1 and GSTR-3B must be filed on time.

💳 E-Invoicing

If turnover exceeds the prescribed limit (₹5 crore for FY 2024–25), e-invoicing rules apply, requiring the generation of invoices through the IRP portal.

📦 Composition Scheme

Small companies with limited turnover can opt for the composition scheme to reduce compliance burden, though they cannot issue tax invoices.


⚖ 4. Labour Law Compliances

Even private companies in Goa employing staff must comply with labour welfare laws, including:

📋 Employee Records

Employers must maintain records of attendance, wages, overtime, and leave.


🏢 5. Goa Shops and Establishments Act, 1973

This Act regulates working conditions, wages, and employment rules for establishments operating in Goa.

🔍 Registration

Every private company with an office or establishment in Goa must obtain a Shops & Establishments Registration Certificate within 30 days of commencement.

📑 Renewal

The registration must be renewed periodically as per the notified intervals by the state labour department.


👩‍💼 6. PF & ESI Compliances

If your Goa-based company employs 20 or more employees, registration under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 becomes mandatory.

Similarly, if you employ 10 or more employees earning up to ₹21,000/month, you must register under the Employees’ State Insurance Act, 1948.

💼 Monthly Filings

PF and ESI returns must be filed monthly through their respective online portals.


📜 7. Other Goa-Specific Registrations


🛡 8. Compliance Management Tips


📚 Conclusion

Running a private limited company in Goa can be both rewarding and challenging. While Goa offers a business-friendly environment, statutory compliance is non-negotiable. By keeping up with MCA, Income Tax, GST, Labour, and state-specific obligations, companies can avoid legal pitfalls and focus on growth.

At Taxaj Corporate Services LLP, we provide end-to-end compliance support for Goa-based companies — from incorporation to annual filings, ensuring you never miss a deadline.



Created & Posted by Himanshu Shakya
Account Executive at TAXAJ

TAXAJ is a consortium of CA, CS, Advocates & Professionals from specific fields to provide you a One Stop Solution for all your Business, Financial, Taxation & Legal Matters under One Roof. Some of them are: Launch Your Start-Up Company/Business, Trademark & Brand Registration, Digital Marketing, E-Stamp Paper Online, Closure of Business, Legal Services, Payroll Services, etc. For any further queries related to this or anything else visit TAXAJ

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