Updated By: LatestGKGS Desk
Government to charge betterment fees under Value Capture Scheme
Government to charge betterment fees under Value Capture Scheme from financial year 2017-18
The Government of India has decided to charge betterment fees for any major infrastructure work constructed with public investment.
Major infrastructure projects like metro rail, expressway, industrial corridor etc. will be charge from the financial year 2017-18.
The Value Capture Scheme will be rolled out in the economy from the financial year 2016-17.
The betterment fees will be collected by the municipal or development authorities
The betterment fees will be charged in addition to the stamp duty paid by the buyers.
The government has also justified the proposal on ground that infrastructure development results in increase in the value of land.
The government already levies taxes on various large projects apart from toll tax for the construction and maintenance.
The government has justified that betterment fee will be charged even if there are no-toll free project.
