emfizz.com
emfizz.com July 27, 2017


Coal tax at 5% in GST will bring down power tariffs: Goyal

20 May 2017, 05:51 | Terri Saunders

Union power minister Piyush Goyal lauded the Raje government in Rajasthan for ‘pulling’ out discoms from losses

Rajasthan news

In a bid to ensure power supply where grid connectivity is not available, the Centre has adopted an off-grid power supply approach to villages, Power Minister Piyush Goyal said here on Friday.

"The entire GST regime is created to help bring down costs all over the country and aims at one nation, one tax to reduce corruption", Goyal said at a briefing here on the progress made in rural electrification. "At these places where grids can not reach, we are planning to give off-grid solution for which (chief minister) Vasundhara Raje ji and central government had extensive discussion" added the minister.Appreciating work done under Raje government, Goyal took potshots on previous Congress government for mishandling power sector.

About lower rates on coal under GST, he said, "The coal sector will also benefit (due to GST) with straight away benefits to consumers because (higher) taxes used to be a burden on consumer of India".

A senior executive at state-run power producer NTPC said the reduction in tax incidence of coal would result in 6-7 paisa per unit decrease in electricity generation cost.

With renewables tariff already touching new lows, Power Minister Piyush Goyal today said there was no need for lower taxes to encourage clean energy and the GST regime will have no impact on power rates. "Tariffs for solar projects vary from project to project". I am delighted that the GST council has chosen to keep coal at 5 per cent slab. "The rise will be compensated by the decline in corruption and operational difficulties", he said in this regard.

Welcoming the 5% tax on coal, Association of Power Producers director general Ashok Khurana said: "This will help to reduce the retail price of power for consumers".

Will Smith defends Netflix at Cannes: It's 'nothing but an absolute benefit'
But Smith said Netflix was not a threat to movie theaters, as people watched streaming video and also went to the cinema. During the press conference, the Spanish director and American movie star argued opposing sides of the issue.


Putin Prepared to Provide Written Transcripts on Lavrov-Trump Talks
Republicans of the House Judiciary Committee predominately voted against the articles of impeachment for the president. According to John McCain, Trump's scandals are "reaching Watergate size and scale".


Mobile US, Inc. (NASDAQ:TMUS) Earnings Forecast In Focus
The current share price indicates that stock is -4.59% away from its one year high and is moving 63.93% ahead of its 52-week low. COPYRIGHT VIOLATION NOTICE: This news story was first published by The Cerbat Gem and is the property of of The Cerbat Gem.


However, he said no clear exemption has been prescribed as yet for taxation of electricity under GST.

Coal is now taxed at 11.69 per cent.

According to Union power ministry data, 426 of the 495 villages in the state have been electrified under DDUGJY - a Centre-sponsored electrification scheme.

Only 3,900 villages remain to get the electricity. The process of taking electricity to 69,058 villages is in progress, while 68, 67, 371 households have been electrified.Acknowledging, state's demographic conditions, minister pointed that Center is looking for off-grid solutions for the state.

It said that free electricity connections were provided to 256.81 lakh below poverty line families up to April 30 2017.



Other News

Trending Now

June 30 deadline for Aadhaar not to be extended: Govt to SC
During the hearing, the Attorney General claimed 115 crore Aadhaar cards have already been issued, in a population of 125 crores. Rohatgi said that Aadhaar was being made compulsory so that benefits of schemes do not "go to ghosts".

Senate intel chairman: No decision from Flynn on honoring subpoena
Then-National Security Adviser Michael Flynn speaks during the daily news briefing at the White House in Washington, Feb. 1, 2017. But a White House official has said McGahn and others were not aware of the full details of Flynn's Turkish work.

Marco Silva: Hull manager has already made decision on his future
Hull's fate was sealed with the heavy 4-0 defeat at relegation rivals Crystal Palace. We need to look as well what is my goal for my career.

3 arrested in death of boy found in stolen car
Three young men have been arrested in the U.S. , hours after a 6-year-old boy was found shot dead in his mother's stolen vehicle . Security video shows that after Archie left, a silver Honda Civic drove up, a man got out, and drove away in the Camry.

Donald Trump urged to shut down White House press room
He also said the press should be banished to a nearby Starbucks and that Spicer should take questions from the American people. Washington Post columnist Dana Milbank wrote a column this week charging 'Trump has sucked the lifeblood out of Sean Spicer'.

Trump may be regretting this tweet about 'Crooked Hillary' right about now
Trump's meeting with the Russians came just one day after he fired Comey as Federal Bureau of Investigation director. Suddenly, Republican senators don't have a lot to say about mishandling of classified information.

New Orleans removing last of four statues linked to pro-slavery era
Of the four monuments, Lee's was easily the most prominent, with the bronze statue alone being close to 20 feet tall. Grant in 1865, effectively ending the Civil War - is the first to be taken down in the light of day.

FBR & Co Equities Analysts Decrease Earnings Estimates for Urban Outfitters, Inc. (URBN)
Wunderlich set a $20.00 price target on shares of Urban Outfitters and gave the company a "hold" rating in a report on Wednesday . Analysts are forecasting Urban Outfitters, Inc.to report revenue of about $895.68M, versus the $890.57M posted previous year .

SFPD searching for 1-year-old boy, tan Toyota Corolla
Authorities said they were searching for Makai's father, 30-year-old Jason Lam, in connection with the abduction. Relatives of Lam said he recently experienced mental breakdowns, according to officials.

Trump Election: Former FBI Boss To Lead Russia Inquiry
At this point, however, Scalise affirms that the House intelligence committee will continue doing what it's been doing. His argument: Congressional interviews and hearings could inadvertently harm or complicate the criminal investigation.