The Impact of GST on Renewable Energy
The Goods & Services Tax (GST) has been hailed as a clever initiative by most around the country, although, a number of implications are yet to be recognized. While it will diminish the cost of cars, processed food and cement; shopping online, eating out and traveling will take a little more out of your wallet. Moreover, the implementation will encourage the Digital India initiative owing to the policy that enterprises with a turnover exceeding 20 Lakhs will find a mandate to go digital. This will increase the productivity of these enterprises in consequence. While the aforementioned sounds interesting contemporarily, experts forecast that GST will minimally affect the renewable sector. Contrary to prior assumptions, the tax leveed on equipment for solar, wind and nuclear energy will be the lower slab of 5%. The taxation on solar panels is set to rise from zilch to 5% will resulting in a rise in the prices of solar panels. The move will marginally increase the costs in these secto