Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: TDS :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: cpt :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: form 3cd :: ACCOUNTING STANDARDS :: empanelment
 
 
« News Headlines »
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional
 GST input tax credit form
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states
 Should you file revised Income Tax returns; find out here
 Tax Deducted at Source (TDS) in Goods & Services Tax (GST)
 10 companies that blamed GST for soft June quarter
 How will GST impact the Indian economy
 10 days left to file your first GST return. This is how you do it
 What is property tax and how is it calculated…

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