SJVN’s Heat and Power Generating Green Hydrogen Project Starts Operation

Bihar Invites Bids for 200 MW Rooftop Solar Projects

REC Avails $388 Million Loan from SACE for Green Energy Projects

Daily News Wrap-Up: RUMSL Invites Bids to Develop 170 MW Solar Project

US Solar Manufacturers File Trade Petition Against Solar Imports From Southeast Asia

Captive Segment Growth Drives KPI Green’s Profit Up 36% in Q4 FY24

Corporate Funding in Energy Storage Sector Surges Five-Fold to $11.7 Billion in Q1

CERC Grants Connectivity for 300 MW Solar Project Citing Force Majeure Events

Hitachi Energy Invests $1.5 Billion to Meet Surging Transformer Demand

US Aims to Slash Grid Interconnection Timeline from 33 to Under 12 Months by 2030

<p>India’s Finance Minister, Arun Jaitley, confirmed a solar GST rate of 5 percent at the 15<sup>th</sup> meeting of the GST Council held today. This official clarification ends a <a href="https://mercomindia.com/revenue-secretary-says-solar-module-gst-rate-5-percent/" target="_blank" rel="noopener noreferrer">week of confusion</a> and uncertainty. The solar industry can now move forward and plan ahead based on the 5 percent rate. However, further clarification should be issued about what happens to current projects under development, including the change in law provisions.</p>
<p>The Goods and Services Tax (GST) schedule was <a href="http://mercomcapital.com/MercomIndiaGSTsolar.pdf" target="_blank" rel="noopener noreferrer">released</a> on May 18<sup>th</sup>, where solar cells and modules were assigned an 18 percent tax rate. But in another part of the report – all renewable energy devices and spare parts for their manufacturing, including bio-gas plant, solar power based devices and solar power generating systems, wind mills and wind operated electricity generators, waste to energy plants/devices, solar lantern/solar lamps and ocean waves/tidal waves, and energy devices/plants, are listed under the 5 percent tax rate.</p>
<p>&nbsp;</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
</div></div><div class="clearfix"></div></div></div>

It’s Official: Finance Minister Arun Jaitley Confirms 5 Percent GST for Solar

bio-gas-plant

Get the most relevant India solar and clean energy news.

RECENT POSTS