One of the major costs in an infrastructure project is the tax cost that a project has to bear on account of various indirect taxes, viz., the value added tax, works contract tax, service tax and many other similar taxes. Typically, in most of the infrastructure projects, the owner awards a turnkey contract to one party known as the engineering, procurement and construction (EPC) contractor.
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State govt mulls risk-proofing of PPP projects in ports
In order to ensure coastal security, the home ministry of Maharashtra government is reportedly planning to adopt risk-proofing in public private partnership (PPP) contracts for the development of these minor ports. According to the government plan, certain risk-proof clauses could be included in the PPP agreement on the lines of similar clauses in defence contracts to “ensure acco