India will levy a 5 percent tax on all equipment required for generating solar power compared with nil duty now, a government official clarified, putting an end to confusion about the new taxation policy for the industry after its landmark tax reform.
“All solar equipments and its parts would attract 5 percent GST only,” Revenue Secretary Hasmukh Adhia said in a tweet on Sunday, contrary to the initially planned two tax slabs of 5 percent and 18 percent.
India, the world’s third biggest greenhouse gas emitter, has set a target to produce 100 gigawatts of solar power in five years to fuel its economic expansion while reducing its carbon footprint. Read More…
Credit By: New Indian Express
Latest posts by newindianexpress.com (see all)
- Pledge to cut coal imports turning a dud - July 22, 2018
- CCI Dismisses Complaint Against 37 Railway Signalling Cable Suppliers - July 19, 2018
- Bangalore Metro Phase-II faces Defence land hurdle - July 16, 2018