Date: 2024-11-26Category: Not ApplicableState: Uttar PradeshCountry: India
गंगा एक्सवप्रेसवे परियोजना (प्रयागराज से मेरठ) में जी0एस0टी0 के अतिरिक्त 06 प्रतिशत व्यय भार के दृष्टिगत विकासकर्ताओं को प्रतिपूर्ति हेतु धनराशि के आवंटन के सम्बन्ध में।
This document, dated November 25, 2024, from the Government of Uttar Pradesh, Industrial Development Section-3, addresses the allocation of funds for the reimbursement of 6% additional expense incurred due to GST on the Ganga Expressway Project (Prayagraj to Meerut).
The letter grants approval from the Governor to release ₹10000.00 Lakh (₹1 billion) for the second quarter of the financial year 2024-25, under the terms & conditions outlined, to the developers of the Ganga Expressway project to cover the additional 6% GST expense. A total of ₹13728.00 lakh has been allocated to date.
The fund withdrawal by UPPIDA should be done only as per the immediate need, and utilized for this purpose only.
Other terms and conditions include:
* Submission of utilization certificate and audited accounts within a specified timeframe to the Accountant General, U.P. Prayagraj, the Office of Local Fund Audit, U.P. Prayagraj, and the Government.
* Adherence to financial guidelines and orders.
* Deposit of any interest earned on the allocated funds into the treasury.
* Ensuring that the Tax Invoice presented by the concessionaire for payment is dated July 18, 2022, or later.
* The allocated amount (₹1 billion) will be debited to the head "5054033371700 Ganga Expressway Project" under grant number 007 in the income-expenditure of the current financial year 2024-2025.
The letter is issued with the approval of the administrative department, in accordance with the Office Memorandum of the Finance (Income Expenditure) Section-1, dated March 4, 2024.
The letter is addressed to the Chief Executive Officer of UPPIDA (Uttar Pradesh Expressways Industrial Development Authority), located at Paryatan Bhawan, Gomti Nagar, Lucknow. For verification, the website is http://shasanadesh.up.gov.in
The letter is signed by Ramya R. Special Secretary.
Key Entities Referenced
Ganga Expressway Project (Prayagraj to Meerut): A PPP project where the government is reimbursing developers for the additional 6% GST burden due to a change in law (GST rate increase) for financial year 2024-25, second quarter.
Uttar Pradesh Expressways Industrial Development Authority (UPEIDA): The nodal agency responsible for implementing and managing the Ganga Expressway Project, including disbursement of funds to the developers.
Article 41 Change in Law: A clause in the Ganga Expressway's concession agreement, addressing financial adjustments due to changes in law, in this case an increase in the GST rate.
Industrial Development Section-3: The specific section within the Uttar Pradesh government responsible for issuing the order regarding the reimbursement.