KSEBOA - KSEB Officers' Association

Saturday
Jun 24th
Text size
  • Increase font size
  • Default font size
  • Decrease font size
Home News Power Sector News Wind plant components exempt from excise duty

Wind plant components exempt from excise duty

PDF
Hits smaller text tool iconmedium text tool iconlarger text tool icon

WindIn a bid to attract investments into the wind energy sector, the government has exempted parts and components used in wind- operated electricity generators - tower, rotor and blades - from excise duty. A circular issued by the Central Board of Excise and Customs says the move is taken to "reduce litigation and improve ease of doing business in the important sector of non-conventional energy".

The first circular in this regard was issued in 2012, after which several references were received regarding the eligibility of the components. The recent circular clarified on the parts and components of the wind turbine generator, which fall in the exempted category.

"These (wind) companies have been facing an issue of payment of excise duty on the various parts that go into making a wind energy station without any method of availing a credit or set-off on the same. This will go a long way in driving more investment in companies engaged in generating energy through renewable energy sources and will be welcomed by the energy sector," said M S Mani, senior director, Deloitte India.

Of the ambitious targets set by the National Democratic Alliance government for renewable energy - 1.75 gigawatt (Gw) by 2022 - around 60 Gw would be wind energy. In the renewable mix of 37,000 megawatt (Mw), wind power currently contributes the highest with an installed capacity of 24,000 Mw.

Following the decision to exempt excise duty, shares of wind turbine company Suzlon Energy were up 2.51 per cent on the BSE. The stock of Gujarat-based Inox Wind, too, surged 1.55 per cent while that of Orient Green Power rose 9.23 per cent.

Source- Business standard

 

Add comment


Security code
Refresh

Random Videos

You need Flash player 6+ and JavaScript enabled to view this video.
Title: Power Quiz 2015 Final - Part-1

Latest Comments

Banner

Reference Book

 

Reference Book on Power

Electrical Engineering-- D' 1/4 Size Hard bound-- 1424 Pages-- Just Rs.1000/- only &n...

Visitors Counter

mod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_counter
mod_vvisit_counterToday552
mod_vvisit_counterYesterday5953
mod_vvisit_counterThis Month120676
mod_vvisit_counterLast Month149108

Online Visitors: 85
IP: 23.20.214.5
,
Time: 02 : 10 : 29