Tags: GST

Change in Law payments lead to INR 4K crore cash inflow for solar sector: CRISIL

Recent commencement of Change in Law payments by state power distribution companies (discoms) and Solar Energy Corporation of India (SECI) for Goods and Services Tax (GST) to solar power projects, comes as a shot in the arm for the sector. Together with safeguard duty (SFD) reimbursements, which also qualify under ‘Change in Law’, the payments will […]

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The reduction in GST is on expected lines: Nagesh Basavanhalli, Greaves Cotton

Nagesh Basavanhalli, MD & CEO, Greaves Cotton welcomed the government’s move to slash taxes on electric vehicles and chargers in a bid to encourage the use of more environment friendly cars. He said “The reduction in GST is on expected lines and a logical extension of government’s electric push. This along with other EV friendly […]

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Delhi High Court directs GST council to review tax structure for solar projects

The Goods and Services Tax (GST) Council has been directed by  Delhi High Court to review the tax structure for solar power projects. The decision was in response to a petition filed by the Solar Power Development Association. SPDA challenged the latest tax formulation for solar power generating systems unveiled on January 1. Delhi High […]

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GST led to increase in cost of solar power generation by almost 6 per cent: Report

According to a recent report published by the Council on Energy, Environment and Water (CEEW) and the International Institute for Sustainable Development (IISD) the introduction of Goods and Services Tax (GST) has led to an increase in the cost of solar photovoltaic (PV) power generation by almost 6 per cent. At the same time, the […]

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Renewable energy devices and parts to be taxed at 5%, services to attract 18% GST

GST Council giving some breather to solar industry clarified that renewable energy devices and parts will be taxed at 5%, while the services will attract 18% GST. Before this announcement which came on Saturday, tax officials asked the developers to pay 18% tax resulting to delay the projects. With the clarity on the tax rate, […]

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Installations of solar in India slowed down in July-September: Experts

Amid increasing volatility in tender issuance, auctions and issues related to GST and safeguard duty, India’s solar installations slowed down in the July-September period of 2018, officials said on Sunday. “Indian solar market has grown spectacularly over the last four years but is struggling to sustain because of policy and execution challenges. The slowdown is […]

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India’s imposition of duty on China imports and GST slowed solar capacity additions: UN Report

United Nations (UN) in its latest report said that India’s imposition of duty on Chinese solar cells and modules shipped and levy of Goods and Services Tax (GST) on panels have significantly slowed down solar capacity additions last year. The report says developing economies, comprising India, China and Brazil, committed $177 billion to renewables last […]

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EV drive: SIAM suggests 5% GST, IT deduction for individual buyers

In order to promote electric vehicles (EVs) in India, auto industry body SIAM has suggested reduction of GST on such automobiles to 5 per cent, besides one-time income tax deduction of 30 per cent of vehicle price for non-financed buyers. In a white paper submitted to the government, the Society of Indian Automobile Manufacturers (SIAM) […]

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GST led to 10-12 % rise in cost of solar projects: AISIA

The GST has led to 10-12 per cent rise in overall cost of solar projects, the All India Solar Industries Association (AISIA) has said, while petitioning the government against the rise in tax incidence on solar power equipment under the new regime. This will, in turn, result in increase in the cost of power, AISIA […]

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ASSOCHAM urges equal GST rates for hydropower, wind, solar

Apex industry body ASSOCHAM urged the Centre to fix Goods and Services Tax (GST) rates for hydropower at par with wind and solar so that value added cost and tax are commensurate for all renewable power projects. “Hydro projects attract 18 per cent GST for equipment and 28 per cent for cement while the same […]

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