Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: articles on VAT and GST in India :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: empanelment :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: TDS :: VAT RATES
 
 
News Headlines »
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year
 How To File Income Tax Return (ITR) Online For FY2016-17? Last Date July 31
 Last date for filing income tax return approaches: What is Form 26AS? How it can help you claim refunds
 Income Tax department to launch mobile app to make life easy for taxpayers
 6 things to remember while filing your income tax return
 Want to save on tax? Here are deductions you can use while filing ITR
 July 31 Is Last Date For Filing Tax Return. Why Form 26AS Has To Be Checked

Tax sops for supercritical tech
August, 21st 2009

The government has proposed to extend the excise waiver and income-tax holiday benefit to power projects based on supercritical technology, including large-sized energy-efficient power equipment. The proposal is part of the new mega power policy being worked out. The existing policy has no provision for giving incentives to the new-generation supercritical power projects.

In addition, the new policy would also allow projects that have completed financial closure but have not tied up requisite long-term power purchase agreements (PPAs) to apply for mega power status and avail incentives.

The changes would be included in the final draft of the new mega power policy finalised by the government, an official in the power ministry said. A committee of secretaries (CoS) cleared the new mega power policy early this month. The power ministry would include the changes in the draft policy before putting it before the Cabinet for approval, the official said, requesting anonymity.

Under the proposed changes, supercritical power projects would be included in the list of projects to be covered under the mega power benefits. The benefits would be extended only if such projects (supercritical projects) source equipment by inviting international competitive bidding with the mandatory condition that the supplier sets up an indigenous manufacturing facility.

The existing mega power policy allows duty-free import of capital goods and extends deemed export benefit (excise duty waiver) for supplies by domestic bidders. In addition, the income-tax holiday regime under Section 80-IA can also be availed. The incentive is given to hydel power projects of 500 mw and above and thermal projects of 1,000 mw and above.

The changes in the policy have been proposed to encourage technological innovation and technology transfer for developing indigenous capacity for manufacturing of supercritical equipment, another official of power ministry said, who also did not wish to be identified.

In addition, the power projects that have completed financial closure would also be able to get mega power incentives even though they are yet to tie up the requisite 85% of power sale under long-term power purchase agreements (PPA) with distribution utilities and trading companies.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

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