GST Council may clarify on tax rate for solar modules at 3 June meeting
GST Council, in its 3 June meeting, might reverse a decision to set an 18% GST rate on solar modules, company executives say Under the final GST rates, solar modules have been classified under an 18% tax slab; the present effective tax rate on them is zero. Photo: Bloomberg Mumbai: The goods and services tax (GST) Council is likely to clarify on the tax rate applicable to solar modules at its next meeting in early June, which might reverse a decision to set an 18% rate on the key component of solar energy infrastructure, company executives say. Under the final GST rates, which takes effect on 1 July, solar modules have been classified under an 18% tax slab; the present effective tax rate on them is zero. The ministry of new and renewable energy (MNRE) has informally communicated to the sector that this might be an anomaly and that a clarification is likely to be issued when the GST Council meets on 3 June, according to companies. The clarification could likely...
