Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: due date for vat payment :: ACCOUNTING STANDARDS :: empanelment :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: form 3cd :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit
Customs and Excise »
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Seeks to amend Notification No. 27/2014-Central Excise
 Government doubles limit of excise duty evasion for arrest and prosecution
 Excise duty evasion limit to warrant arrest revised to Rs 2 crore
 Guidelines for launching of prosecution in relation to offences punishable under the Customs Act, 1962
 GST notification triggers uncertainty over excise duty
 Preparing for GST: govt looking at restructuring excise/customs cadre
 Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available.
 CBEC directs customs officials for random search of vessels
 Rate of exchange of conversion of the foreign currency with effect from 7th July, 2016

Customs, excise duty waiver
July, 21st 2009

In a bid to promote merchant power projects in the country, the government is planning to permit projects that allow merchant sales of up to 40% of saleable energy in case of hydel power and 15% in thermal power to get zero import duty and deemed export benefit (excise duty waiver) on equipment purchase. It is also planning to extend its policy of giving price preference of 15% to domestic equipment companies till 2011.

Merchant sales allow project developers to sell power in the open market at market-determined prices instead of signing long-term contracts with state electricity boards.

The Centres mega power policy, in its present form, provides tax sops to projects (over 1,000 mw thermal and over 500 mw hydel projects) where the entire capacity is tied up under long-term power purchase agreements (PPAs) with state utilities and trading entities. Under the policy, while import of capital goods is exempted from Customs duty, deemed export benefit is available for supplies by domestic bidders. In addition, income-tax holiday under Section 80-IA can also be availed.

The proposals are part of the new mega power policy being finalised by the government. The power ministry has forwarded the final note on the new policy to the Cabinet for approval, a government official said.

The new hydro power policy cleared by the government already allows merchant sales of 40% of the total capacity of power projects. Thermal projects also have a 15% quota of power they can sell outside PPAs. The new policy would integrate these two clauses (for thermal and hydel projects) to give tax incentives to project developers.

This would help projects to get tax incentives even if they are undertaking market sales of a portion of the total capacity of a power project. The proposal to allow mega power benefits to merchant and captive power projects was earlier rejected by the government, the official said under condition of anonymity.

In terms of price preference, the new policy is likely to permit state-owned power companies such as NTPC to give preferential treatment to domestic equipment companies such as Bhel and still avail mega power benefits. This system, which was proposed to be discontinued under the new policy, would be retained till January 2011. This is the cut-off time, after which it would be mandatory even for government-run power companies to sell power through a tariff-based competitive bidding process. All new power projects being developed by private sector companies are already tying PPAs through bidding.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions