13 days ago
India Today
The government remains focused on its clean energy vision in order to combat climate change and reduce dependency on traditional sources of energy like fossil fuels. Some key announcements in the Union Budget 2023 could further help India achieve its goal of becoming a greener economy. C) Beneficial tax treatment for RE Certificates (‘RECs’):The sale of carbon credits, approved by the Kyoto Protocol, is taxable at a beneficial tax rate of 10%3. However, this beneficial rate is applicable only on interest paid till July 2023. C) Rationalise GST on EPC contracts:The GST rate on EPC contracts was increased to 13.8 per cent [12 per cent and 18 per cent GST applicable on [70(on goods):30 (on service) ratio].
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