Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: empanelment :: TDS :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: due date for vat payment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: VAT Audit
« GST - Goods and Services Tax »
 GST Update On Proof Of Export
 GST impact on economy - Part 2
 Banks, insurance companies under lens for inflated tax credits
 GST-Practical Difficulties In Filing And Solution, Code Of Ethics (Indirect Taxes)
 How the dynamics between GST and inflation will play out
  GST data may be used to track income-tax evaders
 Documents, Accounts & Records In GST (Part-III)
 GST data may be used to track income-tax evaders
 GST brings down cost of Delhi Metro expansion
 CBEC calls for reality check to boost GST mop-up
 With GST, whole country is trader’s market
 Panel set up by government for more GST tweaks
 Assocham for hydropower GST at par with other renewables
 GSTN to provide remaining IT functions on GST portal in next 2-3 months
 GST will become good and simple tax in a few months

GST brings down cost of Delhi Metro expansion
December, 05th 2017

The goods and services tax (GST) has reduced the cost of Delhi Metro’s Phase-IV project by more than Rs2,500 crore, but the deadline for the new 104km network was delayed by a year because of lack of consensus between the Centre and Delhi government.

The additional six new lines to boost connectivity on the city’s outskirts, the airport and south Delhi was estimated to cost Rs55,208 crore, according to the detailed project report (DPR) drafted in 2014.

A revised report submitted to the Delhi government this May put the cost at Rs52,625 crore, after accounting for GST rates that the finance ministry had given to Delhi Metro before the new taxation system was rolled out in July. But the post-GST funding pattern has affected the deadline for completion of the project as it has to be sent to the Delhi cabinet again for approval.

The delay prompted Metro authorities to postpone the commissioning of the project to March 31, 2023. The previous target was March 31, 2022.

Documents accessed by HT indicate the Delhi government’s share has increased by 11.14% after the project’s estimate was revised. It was to pay Rs11,334 crore, but will have to shell out Rs12,597 crore now.

“The Delhi government had already approved Phase-IV in January, but GST happened and the entire funding pattern had to be relooked. I am yet to get the revised estimates,” said Delhi transport minister Kailash Gahlot.

A letter by Delhi Metro chief Mangu Singh this September to the city’s transport commissioner explains the increase in Delhi’s share of the cost. He wrote the ministry of housing and urban affairs “has desired that sharing of taxes in new regime (GST) should be agreed by GNCTD in the ratio of 1:2 between GOI and GNCTD respectively.”

GNCTD stands for government of national capital territory of Delhi.

Metro authorities can begin work only after approval from the Aam Aadmi Party government in Delhi and the Centre.

Delhi Metro refused to divulge details, saying the new estimate was based on a fresh study of the project in a GST environment.

“Since Phase-IV has not yet been approved, we would not like to comment on its costs or funding pattern,” a Metro spokesperson said.

Besides GST, a revised cost escalation rate from 7.5% to 5% also reflected in the reduced budget for the project, according to sources.

The project is expected to add 850,000 riders each day to the network. The new lines IV are Rithala-Narela, Inderlok-Indraprastha, Tughlakabad-Aerocity, Lajpat Nagar-Saket G Block, Janakpuri (West)-RK Ashram and Mukundpur-Maujpur.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions