Post Budget 2018 Reaction: Nikunj Ghodawat, CFO, CleanMax Solar

Nikunj Ghodawat, CFO, CleanMax Solar said “This year’s budget ​is in  line with expectations, with a focus on all sectors and strata of society. The Government’s Budget of 2018-19 aligns with the overall plan of reducing the corporate tax rate gradually.  The corporate tax reduction from 30% to 25% for businesses with revenue up to 250 crore is definitely a positive move towards a lower tax regime. E-assessment of income / Corporate tax is very significant structural reform as proposed, and will reduce human interference, with long term benefits in ease of doing business.” He further added “Taxation of long term capital gains at 10% was expected, and the fact of it not being implemented retrospectively is definitely a thoughtful move. While we are yet to see the copy of the ​Finance Bill​ , there seems to be no change in customs duty on solar panels, which is good news for developers like CleanMax Solar and for the growth of the solar industry in India.”