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Time of India
19 hours ago
- Business
- Time of India
Centre likely to grant final approval for outer ring road project in July
Thiruvananthapuram: The long-awaited outer ring road (ORR) project gained momentum following Union minister for road transport and highways Nitin Gadkari 's assurance to grant final approval to the detailed project report (DPR) by issuing an official order in July. The development marks a significant step forward for the Rs 4,767-crore infrastructure initiative aimed at decongesting city traffic and enhancing connectivity to the Vizhinjam International Seaport. According to PWD minister PA Mohamed Riyas, the project received clearance from the Centre and the final order containing the approval will be issued by July end. In Dec 2024, the Centre directed the state govt to submit a revised DPR, incorporating exemptions from the state goods and services tax (SGST) and amendments to mining laws to ensure the availability of construction materials. The state govt submitted the revised DPR in Jan 2025. Upon approval, the National Highways Authority of India (NHAI) will commence disbursing compensation to affected landowners and initiate the tendering process for construction. The compensation disbursal is likely to begin in Aug, sources said. "The wait is over and the project has gained momentum. Though the project received an in-principle nod, there will be some procedures and it will take at least a month," a PWD official said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo However, landowners have voiced concerns about the delay in compensation. On May 7, the affected landowners protested outside the NHAI regional office in Chackai against the delay. The protest was led by Outer Ring Road Vizhinjam-Navaikulam Janakeeya Samiti. "We support development but not at the cost of our rightful compensation," action council convenor S Chandramohan Nair said. The ORR project, spanning approximately 80km, is a six-lane ring road encircling the district. It is part of the Capital Region Development Programme-II (CRDP-II) and falls under the Centre's Bharatmala Pariyojana scheme. The road will be officially designated as NH 866 and aims to facilitate smoother traffic flow and bolster economic development in the region. Despite the recent progress, challenges remain. A Supreme Court ruling on May 16, 2025, invalidated a 2017 notification allowing C environmental clearances, affecting the northern stretch of the project from Thekkada to Navaikulam. This has stalled compensation and preliminary work in that segment. Efforts are underway to reconstitute the State Environmental Impact Assessment Authority committee to address the impasse.
New Indian Express
2 days ago
- Business
- New Indian Express
Andhra Pradesh taxes show 2.3% rise despite decline of GST in May
VIJAYAWADA: Despite a marginal negative growth rate of 2.24% in gross GST collections, Andhra Pradesh has demonstrated remarkable resilience and efficiency in tax collection, successfully reversing the downward trend observed in November and December 2024, asserts Babu A, Chief Commissioner of State Taxes. In a detailed note issued Monday, he explained that the main reason for the negative growth was due to declines in Cess, SGST, and CGST payments, with reductions of Rs 52 crores (-20.02%), Rs 51 crores (-4.11%), and Rs 40 crores (-4.01%) respectively. However he noted that the overall impact of these declines was minimal on the state's actual revenue, as net revenue collections continue to demonstrate strong performance. The resilience of net collections underscores the effectiveness of state-level tax administration and enforcement efforts in ensuring steady revenue inflows, he stated. Further elaborating, Babu stated that the data from the Goods and Services Tax Network (GSTN), Central and State tax administrations showed divergent revenue trends during April-May 2025. Central tax collections declined by 7.2% year-over-year, while state tax administrations recorded 2.3% growth during the same period.
Time of India
2 days ago
- Business
- Time of India
Andhra Pradesh marks growth in GST revenue in this year's 1st quarter so far
Vijayawada: Andhra Pradesh has demonstrated remarkable resilience and efficiency in tax collection. It has successfully reversed the downward trend that was observed in November and December, 2024. The state achieved sustained growth in GST revenue during the first quarter of 2025, with April emerging as an exceptional month for revenue collection. This May, net GST collections reached ₹2,714 crore. This was the highest amount collected for the month of May since the introduction of GST. The performance not only signifies effective tax administration but also reflects the positive economic momentum in the state. "The steady increase in tax revenue underscores strength of the state's financial framework and the success of various initiatives designed to enhance tax compliance and enforcement," said Babu A, AP chief commissioner of taxes. This growth in net collections is particularly significant because net revenue represents the actual revenue accrued to the state after accounting for IGST settlements and other components. While gross collections reflect the total tax paid, net collections provide a more accurate indicator of the state's fiscal health by considering the revenues available for state expenditures. The gross GST collections for May, 2025 have registered a negative growth of (-) 2.24%. The main reason for the negative growth is the negative collection in cess, SGST and CGST payment with a decline of ₹52 crore (- 20.02%), ₹51 crore (-4.11%), and ₹40 crore (-4.01%), respectively. However, the overall impact of these negative cess and CGST growth is minimal on the state's actual revenue, as net revenue collections continue to demonstrate strong performance. "The resilience of net collections underscores the effectiveness of state-level tax administration and enforcement efforts in ensuring steady revenue inflows," said Babu. According to data from the Goods and Service Tax Network (GSTN), Central and State tax administrations showed divergent revenue trends during April-May this year. Central tax collections declined by 7.2% year-over-year, while state tax administrations recorded 3.2% growth during the same period. Without the central tax administration's negative performance, the overall gross GST collections would have shown a 3%+ growth rate instead of being dragged down by the central component.
Indian Express
3 days ago
- Business
- Indian Express
GST to staircase rules, Dharavi project seeks many exemptions
From tax exemptions to waivers on charges for any deficiencies in staircase and open space rules, the Dharavi redevelopment project has sought several key exemptions that are pending government approval. These, along with other issues awaiting clearance, were flagged in a presentation by the Navbharat Mega Developers Private Limited (NMDPL) — the special purpose vehicle (SPV) set up through a joint venture between Adani Properties Private Limited (80%) and the state government's Slum Rehabilitation Authority (20%) to execute the redevelopment project – during a high-level review meeting chaired by Chief Minister Devendra Fadnavis on May 28 at which the project master plan was cleared. When contacted, a senior official with the housing department said while these pending issues are yet to be cleared by various departments, they are not a part of the master plan. 'The pending issues raised are important for the project, and the respective departments will follow procedures and take a final decision,' the official said. According to NMDPL, these pending approvals are required to unlock land, complete legal formalities, reduce upfront costs, and proceed with housing and infrastructure components of the plan. These include land transfers, waivers on tax and staircase/ open space premium, regulatory relaxations that would help NMDPL carry out the redevelopment, rehabilitate slum dwellers and utilise the land parcels — including Kurla Dairy land, Jamasp Salt Pan in Mulund, Aksa and Malvani, Deonar, and Arthur & Jenkins Salt Works — that have been allocated for rehabilitation of ineligible residents of Dharavi. While the master plan envisages construction of 58,532 residential units and 13,468 commercial and industrial units on 116.6 acres of the existing Dharavi area for the rehabilitation of eligible residents, the NMDPL will utilise around 541 acres of land allotted to it across the city (outside of Dharavi) for construction of rental housing for ineligible residents. Besides, another 118.4 acres inside Dharavi, of the gross area of 620 acres, have been earmarked for commercial development. The developer has flagged at least eight key issues awaiting government approval — across departments including housing, urban development, revenue and finance — and requested that the decisions be finalised by July to maintain project momentum. The project is scheduled to be completed by 2032. NMDPL has requested final notification for reimbursement of State GST (SGST) paid on construction for 15 years in rehabilitation and 5 years in commercial units. This will help it to avail Input Tax Credit on the construction of rehabilitation as well as commercial units. The proposal asks the state to consider the functions of the redevelopment project under Article 243W of the Constitution, enabling exemption from 18% GST on 'pure services' like consultancy, project management and design (fees). A Government Resolution waiving or capping charges on the developer for staircase and open space deficiencies is pending with the Urban Development Department since January this year. These premiums or charges are applied when buildings/ projects have less open space or staircase area than required by rules. Waiving or reducing these charges would help lower the overall project cost. The developer has sought approval to use 35% fungible floor space index (FSI) to increase the size of renewal tenements (units inside Dharavi) beyond the standard 405 sq ft. As housing societies demand more than the minimum 405 sq ft, the SPV proposes using 35% fungible FSI to accommodate additional area, subject to viability. A proposal on this was sent in March this year. 'By letter dated 23.10.2023 and 18.06.2024, housing department was asked to provide clarity (on the carpet area of renewal tenements),' the NMDPL has said. So far, meetings have been held with the 18 housing societies inside Dharavi, and the developer has said the residents have been demanding a higher carpet area. As per regulations, the minimum carpet area is 405 sq ft. The NMDPL has sought sub-leasing rights to transfer developed units on 21 acres of Kurla Dairy land to societies/ end users. It has said that implementation of the project on land given via government resolutions of the revenue and forest departments cannot be undertaken without such sub-lease. Although a government resolution for allocation of 140 acres in Aksa and Malvani areas was issued in October 2024 and measurement was completed in January 2025, the NMDPL has said the Collector has not issued a payment demand notice, halting the possession of land. The NMDPL has said the demarcation of core Dharavi land by the superintendent of land records has been pending for over nine months even as reminders were sent in April and May. It points out that the process is critical for plotting, layout design, and planning approvals. The NMDPL has requested a waiver of stamp duty charges on long-term land leases, particularly those with central agencies like Railways, as government projects may be exempted from stamp duty under certain rules. Meanwhile, Rajendra Korde, president of the Dharavi Residents Association, said the number of new units being constructed was far lower than the number of existing units. He said surveys should first be conducted properly and every tenant should be considered eligible. Korde also demanded that the project master plan should be made public, and suggestions/ objections should be taken from the residents. According to the eligibility criteria for the redevelopment project, ground-floor residents who settled in Dharavi before January 1, 2000, can get a 350 sq ft house within Dharavi free of cost; those who settled between January 1, 2000, and January 1, 2011, can get a 300 sq ft house outside Dharavi for Rs 2.5 lakh under the Pradhan Mantri Awas Yojana (PMAY). Residents of upper-floor structures built before November 15, 2022, and ground-floor structures built between January 1, 2011, and November 15, 2022, will be offered rental accommodation outside Dharavi. They can also opt for a 'hire-purchase' scheme for 300 sq ft houses.
India Gazette
4 days ago
- Business
- India Gazette
GST collections in May 2025 up 16.4% to Rs 2.01 lakh crore
New Delhi [India], June 1 (ANI): The gross Goods and Services Tax (GST) collection rose 16.4 per cent to Rs 201,050 crore, according to official data released on Sunday. In May 2024, the collections were to the tune of Rs 172,739 crore. In the month of May, collections of CGST, SGST, IGST, and cess all rose year-on-year. So far in April-May 2025-26, the GST collections were at Rs 437,767 crore, up 14.3 per cent from Rs 383,006 crore in the same period last year. GST collection in 2024-25 stood at Rs 22 lakh crore, up 9.4 per cent year-on-year. During the financial year 2023-24, the total gross GST collection was recorded at Rs 20.18 lakh crore, with an 11.7 per cent increase. The recent GST collections reflect a positive trajectory for India's economy, underscoring robust domestic consumption and buoyant import activity. The figures bode well for the country's fiscal health and economic recovery efforts, signalling resilience amidst global uncertainties. The Goods and Services Tax was introduced in the country with effect from July 1, 2017, and states were assured compensation for loss of any revenue arising on account of the implementation of GST as per the provisions of the GST (Compensation to States) Act, 2017 for five years. Hair oil, toothpaste, soap; detergents and washing powder; wheat; rice; curd, lassi, buttermilk; wristwatches; TV up to 32 inches; refrigerators; washing machines, mobile phones, are among key items on which GST rates have been slashed substantially, or for some kept at zero, benefiting people of this country. The GST Council, a federal body comprising the Union Finance Minister as its Chairman and Finance Ministers of all States as members, has played its part in the forum. The latest meeting of the GST Council was held on December 21 at Jaisalmer, Rajasthan. (ANI)
