emfizz.com May 26, 2017

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

20 May 2017, 05:51 | Terri Saunders

Power for 22L households in 18 mths: Goyal

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

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".

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.

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.

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".

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

Anthony Weiner expected to plead guilty in sexting case
Two years later, he announced a run for New York City mayor but dropped out of the race when more explicit messages became public. Weiner turned himself in to the FBI Friday morning and was at federal court at 500 Pearl St., in Manhattan for the arraignment.

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.

Will Smith defends Netflix at Cannes Film Festival
Security was greater than ever at the French festival, with stepped up efforts to restrict access and even an anti-drone system. "Wonderful film that theatre chains want to block us from entering into Cannes film festival competition".

China does not pursue trade surplus with US: vice commerce minister
China had conditionally lifted its longstanding import ban on American beef a year ago , but few purchases have been made. LNG tanker arrived in China in August 2016, followed by another eight cargoes shipped between December and March.

Appeals Court Strikes Down FAA Drone Registration Rule
Eventually, the FAA built a website for people to register their drones and created educational campaigns about flight safety. Jonathan Rupprecht, a lawyer working with Taylor, considers the ruling a victory for the semantics of what a hobby drone is.

Capitals look to complete comeback, expect 'desperate' Penguins
Now, not only do the Washington Capitals have the momentum, but they also have the advantage of home ice for Wednesday's Game 7. In a race for the puck in front of Braden Holtby , Crosby got swept up in front of John Carlson and Patric Hornqvist.

Oblak to replace De Gea?
Argentine Romero joined United on a free transfer in 2015 and is set to start next week's Europa League final against Ajax . United, who are sixth in the table, finish their Premier League campaign at home to Crystal Palace on Sunday (3pm).

Moto C & Moto C Plus Smartphones with Android 7.0 Nougat Officially Launched
It is reported that a total of nine handsets belonging to Moto Z, Moto X, Moto G, Moto E, and Moto C series are in the offing. However, the Z Force will be unique in that it will have support for gigabit LTE and will have a toughened front display .

Positive News Coverage Extremely Likely to Impact Delcath Systems (DCTH) Stock Price
It represents a security's price that, if achieved, results in a trader recognizing the best possible outcome for his investment. A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range.

Mourinho Hopeful World Number One De Gea Will Remain At United
For Southampton, the goalless game meant it was the first time in the top division the side has gone four games without scoring. Southampton manager Claude Puel refused to discuss his future at the club, which is the subject of speculation.