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: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: cpt :: ACCOUNTING STANDARD :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: due date for vat payment :: TDS :: VAT Audit :: form 3cd
л Customs and Excise »
 Central Board of Excise and Customs to soon notify new procedural framework
 CBEC set to be Central Board of Indirect Taxes and Customs
 Govt to give customs, excise duty benefits to boost solar rooftop sector
 Clarification regarding posting of Central Excise officer in Cigarette units-reg.
 Ensure transparency in excise department working: Bizmen to government
 It is time to review the customs duty on essential food imports
 Migration to GST of existing Central Excise / Service Tax Assessees
 Rate of exchange of conversion of the foreign currency with effect from 3rd February, 2017
 Budgetary Changes In Customs
 Customs and excise officials upset with GST administration deal with states
 Higher petro excise props up govt tax kitty

Customs duty cut: Adani Power to gain up to Rs 1 cr/day
September, 08th 2010

With the Union Ministry of Finance reducing Customs duty on electricity generated and supplied from an SEZ into a Domestic Tariff Area (DTA) or non-processing areas of an SEZ, Adani Power Ltd (APL) is expected to gain up to Rs 1 crore/day.

APL is setting up 4,620 MW power capacity at Mundra SEZ, out of which 990 MW is operational. With the Customs duty sop, it is expected to gain between Rs 75 lakh and Rs 1 crore a day. By January 2011, when the company expects to generate a total of 1,980 MW at Mundra, the gain would also double, sources familiar with the development said here on Tuesday.

Since APL is, perhaps, the only company to commercially sell electricity from an SEZ, it is also possibly the only beneficiary of this sop in the country. The Ministry had, through a notification yesterday, announced a Customs duty reduction from 16 per cent ad valorem about 50 paise a kilo-Watt hour (kWh) to nearly 10 paise . That is, APL will now be paying only 10 paise a unit as customs duty, instead of 50 paise, for the electricity sold at the average price of Rs 3/unit.

The Budget levied 16 per cent Customs duty on the supply of power from an SEZ to DTA. APL had, sources said, obtained an injunction against this levy from the Gujarat High Court. With this notification, APL, which is using imported coal for power generation, will end up paying only 10 paise a unit as duty and will thus gain 40 paise for every unit it sold. APL is now selling about 20 million units of power a day, which is expected to double before the end of this fiscal.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

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