Logistics Sector News dated 16th May 2017

Logistics News Updates

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Demonetisation, GST historic acts by NDA regime: Nitin Gadkari

BY IANS | UPDATED: MAY 16, 2017, 02.21 AM IST

NEW DELHI: Terming demonetisation and Goods and Services Tax (GST) as “two historic decisions” of the Narendra Modi government, Union Minister Nitin Gadkari on Monday said the revenue receipt will rise to Rs 30 lakh crore in the coming years.

Appearing on a TV channel, the Road Transport, Highways and Shipping Minister said that the Modi government’s decision to demonetize the Rs 500 and 1,000 currency notes had contributed Rs 7 lakh crore growth in revenue…(see more)

NHAI signs MoU with TIDCO:

The National Highways Authority of India today signed an MoU with the Tamil Nadu Industrial Development Corporation Limited for developing a multi-modal logistics park in Chennai.

The park will come up in Ponneri Industrial Node near Kamarajar Port. Highways and Shipping Minister Nitin Gadkari said in a press release that it is an important agreement for the development of an integrated, multi-modal transport infrastructure in the country.

The Ministry of Road Transport and Highways plans to develop such parks under its Logistics Efficiency Enhancement Programme (LEEP) in 15 locations at a cost of ₹33,000 crore, including ₹1,295 crore investment for the Chennai Region. The proposed parks will bring down the overall freight cost, reduce vehicular pollution and congestion and cut warehousing costs…(see more)

UDAN scheme: Narendra Modi government fixes levy on major routes at Rs 5,000

By: PTI | Mumbai | Updated: May 15, 2017 10:06 PM

The government has fixed at Rs 5,000 the levy on scheduled flights, being charged from the airlines flying on major routes, to fund its regional connectivity scheme, UDAN. The revised levy, which will be effective from June 1, has now been fixed at a uniform rate of Rs 5,000 per flight till further order, aviation regulator DGCA said in a circular, issued last week.

To fund the ambitious regional connectivity scheme– UDAN (Ude Desh ka Aam Naagrik) — the Civil Aviation Ministry is collecting a levy of up to Rs 8,500 per departure from airlines operating on major domestic routes, including Mumbai and Delhi…(see more)

GST: E-way bills pose threat to business of small transporters

In the goods and services tax (GST) era, movement of goods worth more than Rs50,000 within or outside a state will require securing an e-way bill by prior online registration of the consignment.

The draft rules say that to generate an e-way bill, the supplier and transporter will have to upload details on the GSTN (Goods and Services Tax Network) portal. Once an e-way bill has been generated, a unique e-way bill number (EBN) shall be made available to the supplier, the recipient and the transporter on the common portal…(see more)

 

 

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