Hike in GST on renewable energy devices & levy of BCD on Cells & Modules to be treated as Change in Law; MNRE clarifies
- News|Blog|GST & Customs|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 6 October, 2022
Latest from Taxmann
F.No. 283/3/2018-GRID SOLAR-Part(4) dated September 27th, 2022
The Renewable Energy Developers have represented to the Ministry of New & Renewable Energy (MNRE) to treat the increase in rate of GST on renewable energy devices w.e.f October 1st, 2021 and imposition of BCD on solar PV cells and solar PV modules w.e.f. April 1st, 2022 as Change in Law.
Now, the MNRE has clarified that the increase in rate of GST on renewable energy devices from 5% to 12% w.e.f October 1st, 2021 and imposition of BCD on solar PV cells at 25% and solar PV modules at 40% w.e.f. April 1st, 2022 would be treated as Change in Law unless the same is disallowed by specific provisions in the tender documents/contracts.
Click Here To Read The Full Update
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
CA | CS | CMA
