Service tax exemption of 25 per cent from taxable value is being provided to services of transport of coastal goods and goods transported through national waterways or inland water with no CENVAT credit of taxes paid on inputs, input services and capital goods. The effective service tax rate is 7.725 per cent.
Tag: Ports
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Maritime Agenda 2020 unveiled
The government unveiled the Rs 500,000 crore Maritime Agenda 2020 involving expanding port handling capacity of the country to three billion tonne from the existing 617 million tonne (mt) along with various policy reforms in the shipping and ports sector.
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Ministry proposes SPV on the lines of DP World, PSA
The shipping ministry has proposed to set up a new special purpose vehicle–Indian Ports Global–that would invest in ports abroad and become a global power in the port sector, worldwide.
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Expansion at Chennai Port
Chennai Port is set to undertake 29 expansion projects entailing investments of Rs 10,000 crore in different stages.
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Traffic at minor ports in Guj up 14% in Apr-Nov 2010
Minor ports in Gujarat saw a 13.7 per cent growth in cargo handling during April-November 2010 over the corresponding period last year.
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Slovenia, India logistics tie-up
Slovenia is exploring possibilities of co-operation in the areas of maritime, shipping and trade co-operation with Indian ports and shipping lines.