Are renewable energy certificates, bought by power companies, goods or services?
Neither. And so, must be out of the indirect tax ambit, according to power companies which have suffered higher costs because of the Goods and Services Tax (GST).
The power companies that buy these certificates to comply with the environmental norms challenged the levy through a writ petition filed in the Delhi High Court on Tuesday.
Power companies buy these certificates from renewable energy exchanges to abide by government norms that mandate that a certain percentage of power generated should be through renewable sources. Read More
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