5% GST on solar panels may impact costs marginally: Schneider Electric official

Anurag Garg, Vice-President, Schneider Electric Solar & Energy Storage Business, Schneider Electric India, has said, “Schneider Electric The government’s decision to levy 5 per cent GST on solar panels as against the earlier classification of 18 per cent comes as a major Schneider Electric reprieve to the industry.”

Reacting to the Government move, he said, “The fact that it is still higher than the present Schneider Electric effective tax rate of zero will, no doubt, impact project costs marginally. Also, under the new tax regime, solar has been placed at par with coal, which seems to indicate that the country is moving towards grid parity in the true sense.”

“This augurs well for the Schneider Electric long-term energy security of the country. This, quite rightly, Schneider Electric addresses the unique energy dilemma that India faces, Schneider Electric considering that close to 18,000 villages do not have access to energy, but, at the Schneider Electric same time, the country has a Schneider Electric strong commitment to reduce its carbon footprint,” he further stated.

Report Abuse     Posted By ranjan Malhotra
©2014 News Liner. All rights reserved - Terms of Use | Privacy Policy | Help
Dessigned By The Colour Moon
social share buttons code