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Daily Archives: July 4, 2017

GST shines on renewable energy sector

According to reports, The renewable energy sector is quite content with GST provisions. Contrary to earlier fears of sale of solar equipment – panels, modules and inverters – being taxed at high rates, the GST on such sales has been set at 5 per cent. “The net effect on solar projects will be 3.5-4.5 per cent,” said Raj Prabhu, co-founder and CEO of Mercom Capital Group, which tracks the segment. “There will be issues with power purchase agreements as they will ... Read More »

Orient Green Power receives nod to sell biomass operations

Orient Green Power receives an approval from the company’s board to sell the bulk of its biomass operations to its promoter company, SVL Ltd. The renewable energy-based power generation company had made an application in May 2016 to the Madras High Court for de-merger of the biomass business into a separate listed entity which is currently pending. Subsequent to its application for de-merger, OGPL has agreed to sell its 20 MW co-generation plant in Kolhapur, Maharashtra to the host Sugar Mill ... Read More »

GST rollout: Here is why rise in rate on coal poses a slight risk for solar, wind industry

According to reports, the GST council has reduced the tax burden on domestic coal by placing it under the 5% GST bracket from the current rate of 11-12% (6% central excise duty plus 5% state VAT). Imported coal, however, would attract basic customs duty (BCD) at 10%. Transportation from the coal mines to the factory/construction site (inter/intra state) is a costly affair due to the service tax charged at the rate of 15% on the transportation services, which is transferred onto ... Read More »

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