Union power and renewable energy minister Piyush Goyal has said that the concessional rate of 5 per cent Goods and Services Tax (GST) will apply to all solar equipment and there should be no confusion over it.
“There is no question of ambiguity on this. It has been made very clear that 5 per cent GST will be applicable on solar equipment. If they (equipment makers) still have issues with it, it is very sad and we cannot do anything,” Goyal, who was in Mumbai recently, told reporters.
Although the government has said GST would be applied to solar modules at a concessional rate of 5 per cent, there is still no clarity on whether it will be extended to other equipment as well, say industry players.
“The GST was introduced to bring in more clarity and transparency in the system. I think our stand is very clear in this,” the minister said.
Goyal further said the ambitious plan of increasing solar capacity to 100 GW by 2020 and promoting solar products would boost small and medium enterprises.
“We have set a target of 40,000 MW of rooftop solar capacity by 2022. SMEs can take active participation in this. Apart from this, there is scope in sectors like solar pumps, solar streetlights and energy- efficient systems, among others, for them,” the minister said, adding “the country is moving from a job-seeking to job-creating economy”.
Latest posts by Team EnergyInfraPost (see all)
- NTPC Ltd. Pays Interim Dividend Of Rs. 2,251.01 Crore For FY 2017-18 - February 20, 2018
- Power Grid Corp Outbids Companies To Set Up Vindhyachal – Varanasi 765kv Transmission Line - February 14, 2018
- Reliance Industries Limitedwins The Coveted ‘Golden Peacock Award For Corporate Social Responsibility’ For The Year 2017 - February 9, 2018