Ham Concession Agreement Nhai

September 22, 2021 | Category: Uncategorized

One. In accordance with Article 15 of the Agreement, the project shall be put into operation after receipt of the commercial operation, which shall enable the concessionaire to claim and receive pensions in accordance with the provisions of this Agreement. Reading simultaneously the provisions of sections 2 (33), 13 and 31 of the CGST Act, it is clear that the SPV is legally obliged to issue invoices in excess of 8% of the adjusted supply costs for each tree stone, regardless of the much higher physical level of construction. In addition, in the case of annuity payments, invoices should only be issued if the payment is due in accordance with the agreement concluded after the end of the construction phase, so that it can be deduced with certainty that all income is taxable during the construction phase, given that no pension payments were due or to be received during this period and that, therefore, SPV did not provide exempt services during the construction phase. In accordance with Article 23 of the Agreement, the balance of the remaining completion costs during the period of operation shall be due and payable in accordance with the provisions of clause 23 .6.2. In the TOT model, the right to collect and monopolize royalties for certain operational highway (NH) projects built with public funds is granted to concessionaires (developers/investors) for a predetermined concession period, upon advance payment of a lump sum to NHAI. This transfer of rights is based on the toll revenue potential of the identified NH projects. The operation and maintenance (O&M) obligations of such projects are due to the concessionaire until the end of the concession period. The concessionaires of these projects shall be designated under a transparent and uniform procurement procedure within a pre-established and approved implementation framework. 4.

Certain important clauses of the concession contract concluded with NHAI In the case of HAM projects, the due dates of the annuity payments are clearly identifiable in the concession contract which, as explained above, applies every six months for a semi-annual period of 15 to 20 years from the date of receipt, so that invoices must be issued to the client on or before these deadlines. B. In accordance with Article 23 of the Agreement, the Concessionaire receives a payment in 5 milestones corresponding to a rate of 8% (8%) of the cost of the proposed offer adjusted for the price index: in the Annuity hybrid model, private players build the roads where a certain part of the project costs is paid by the National Highway Authority of India (NHAI) / State Government during the construction period and the remaining 60% is paid in annuity during the term of the concession, which will take place in 15 years or more, as well as the agreed interest. This model is a combination of EPC and BOT pension. As for one example, in a contract worth Rs. 1000 Crores, NHAI releases 400 crores during the construction phase in 5 milestones of 8% each. At the end of the construction and after a correct verification process, NHAI issues COD (Commercial Operations Date), which means that the construction phase is completed and the contractor is entitled to receive annuities (60%) under the terms of the concession contract. . . .

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