Budget 24-25 aims for GST reforms and green energy boost

10 Jul 2024 CW Team

Currently, the power sector is not covered under GST, which was implemented on 1 July 2017. This exemption has led to an increased tariff burden due to the cascading effect of indirect taxes. NSEFI's proposal to include the power sector under GST seeks to streamline taxation and lower costs for consumers and businesses alike.

NSEFI also recommends maintaining the exemption from basic customs duty on imports of key renewable energy components such as wafers, ingots, and polysilicon. This is intended to bolster the domestic manufacturing of renewable energy infrastructure.

Another significant aspect of NSEFI's proposals is the removal of electricity duty (ED) and cross-subsidy surcharge (CSS) on power used in charging Energy Storage Systems (ESS). This measure is expected to encourage the use of energy storage technologies, which are critical for balancing the intermittency of renewable energy sources.

Additionally, the federation has urged the government to introduce Viability Gap Funding (VGF) for Pumped Storage Projects (PSP), similar to the existing support for Battery Energy Storage Systems. This would promote the development of sustainable energy storage solutions, crucial for enhancing India's energy security and integrating renewable resources.

NSEFI also seeks support for 100 agrivoltaic pilot projects across India, aiming to synergise solar power generation with agriculture, benefiting farmers and aiding the nation in meeting its renewable energy targets.

These proposed reforms, if accepted, could significantly impact India's energy landscape, encouraging investments and technological advancements in the renewable energy sector as the country pushes towards its 2030 energy goals.

(Source: ET)

The upcoming Union Budget for the fiscal year 2024-25, set to be presented by Finance Minister Nirmala Sitharaman on 23 July, may bring pivotal changes to the power sector, including its potential inclusion under the Goods and Services Tax (GST). The National Solar Energy Federation of India (NSEFI) has proposed a series of measures aimed at reducing costs and fostering growth within the sector. Currently, the power sector is not covered under GST, which was implemented on 1 July 2017. This exemption has led to an increased tariff burden due to the cascading effect of indirect taxes. NSEFI's proposal to include the power sector under GST seeks to streamline taxation and lower costs for consumers and businesses alike. NSEFI also recommends maintaining the exemption from basic customs duty on imports of key renewable energy components such as wafers, ingots, and polysilicon. This is intended to bolster the domestic manufacturing of renewable energy infrastructure. Another significant aspect of NSEFI's proposals is the removal of electricity duty (ED) and cross-subsidy surcharge (CSS) on power used in charging Energy Storage Systems (ESS). This measure is expected to encourage the use of energy storage technologies, which are critical for balancing the intermittency of renewable energy sources. Additionally, the federation has urged the government to introduce Viability Gap Funding (VGF) for Pumped Storage Projects (PSP), similar to the existing support for Battery Energy Storage Systems. This would promote the development of sustainable energy storage solutions, crucial for enhancing India's energy security and integrating renewable resources. NSEFI also seeks support for 100 agrivoltaic pilot projects across India, aiming to synergise solar power generation with agriculture, benefiting farmers and aiding the nation in meeting its renewable energy targets. These proposed reforms, if accepted, could significantly impact India's energy landscape, encouraging investments and technological advancements in the renewable energy sector as the country pushes towards its 2030 energy goals. (Source: ET)

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Infrastructure Urban

06 Nov 2025

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Infrastructure Transport

06 Nov 2025

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..