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Tata Power cancels energy InvIT deal with Malaysia’s Petronas
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Gujarat HC Rules 18% GST on Leasehold Land Transfer Inapplicable
The Gujarat High Court has ruled that Goods and Services Tax (GST) does not apply to the transfer of leasehold rights on industrial land allocated by the Gujarat Industrial Development Corporation (GIDC). This decision provides significant relief to industries involved in such transactions, removing a contentious tax burden. The judgment addresses whether GST is applicable to leasehold land transfers, offering clarity on a long-debated issue. It is expected to influence similar disputes across courts, including cases in the Bombay High Court regarding industrial land transactions by the Mahara..
Mumbai Metro: BKC-Worli Stretch to Open in 100 Days
Deputy Chief Minister Eknath Shinde announced that the Bandra Kurla Complex (BKC) to Worli stretch of Mumbai Metro Line 3 will commence operations within 100 days. This announcement came after a review meeting led by Chief Minister Devendra Fadnavis with officials from the Mumbai Metropolitan Region Development Authority (MMRDA), Urban Development (UD), and Housing departments. CM Fadnavis directed officials to prepare a revised timeline for all metro projects under MMRDA, stressing the need to avoid delays. He set an ambitious goal of starting 50 km of new metro lines annually, beginning nex..
Kandla Port to Get Rs 570 billion Investment for Shipbuilding Facility
The Ministry of Ports, Shipping & Waterways announced two significant projects at Kandla Port, with a combined investment of Rs 570 billion. These include a Rs 300 billion mega shipbuilding and repair facility and a Rs 270 billion cargo terminal outside Kandla Creek, which will boost the port's capacity by 135 million tonnes per annum (MTPA). The shipbuilding facility will manufacture large vessels, such as Very Large Crude Carriers (VLCCs) with capacities of up to 3,20,000 deadweight tonnes (DWT). It will have the capacity to produce 32 new ships and repair 50 old vessels annually. Spanning ..
