With GST kicking in to benefit the economy in the long run, all of us have secretly been a bit apprehensive about its implementation. We have been worried about paying more to get the same things. Of course, for some goods, prices may fall with GST. However, from what has been doing the rounds, prices of solar in all likelihood will not, considering it has been tax free in some states in any case till now. (more…)
On Wednesday, the Rajya Sabha passed the GST bill, moving one step closer to making GST a reality. While GST has been widely touted as a positive reform for the Indian economy in general, we explore how GST will specifically impact the Solar Industry.
1. Current and Proposed Tax Scenario
Currently, different tax rates are applicable depending on the nature of procurement. Generic Excise duty rate is 12.5%, Service tax is 15%, Import Duty is 29.4% and VAT 5%-14%. All such rates could be reduced/ exempted basis the actual nature of goods and purpose, depending on state, by using C forms and by availing concessions.
Proposed GST Taxes
Below are the approximate rates for different types of GST or Goods and Service Tax.
|State GST/ SGST||10%|
|Central GST/ CGST||20%|
2. GST- The Upside
2.1 Greater Clarity on Interstate Transactions
From Abu Dhabi to Abu Dhabi via Ahemdabad, Hawaii and New York- 40,000 kms in 500 hours, over 506 days with over 17,000 solar cells.
In July 2015, Sunkalp Energy had analyzed the technical specs of a very special plane. Now just over a year later, the Solar Impulse II has broken another record by flying around the World “without fuel”. Here’s our take on what the Solar Impulse’s achievement means for mankind. (more…)
The reason I entered the solar industry in 2013 was because I genuinely care about what we are doing to our planet. Working at a diesel engine company, ironically, got me well acquainted with and concerned about NOx, SOx and particulate matter.
Now in Delhi, the Odd-Even debate has brought the particulate matter and air quality conversation to the common man’s dining table. Unfortunately, the debate is being carried out without a sophisticated look at real data. (more…)