STOCK MARKET BSE NSE

India Inc suggests bringing power under GST ambit

FM Sitharaman on Monday met experts in infrastructure, energy and climate change. Representatives of power sectors demanded to bring power under the ambit of GST.

Published: 22nd December 2020 11:44 AM  |   Last Updated: 22nd December 2020 11:44 AM   |  A+A-

Union Finance Minister Nirmala Sitharaman (Photo| Shekhar Yadav, EPS)

Union Finance Minister Nirmala Sitharaman (Photo| Shekhar Yadav, EPS)

By Express News Service

NEW DELHI:  Increased allocation on healthcare, higher spending on public infrastructure, and bringing power under the ambit of Goods and Services Tax (GST) remain some of the key expectations of the infrastructure and energy sectors from the upcoming budget.

“Create fiscal space for public spending up to 1 per cent of GDP for investment in infrastructure projects in areas such as road, rail, ports, airports, waterways, urban infrastructure, industrial parks, freight corridors,” industry chamber Confederation of Indian industry (CII) said in its pre budget consultation with the finance minister. 

Finance Minister Nirmala Sitharaman on Monday met experts in infrastructure, energy and climate change. Representatives of power sectors demanded to bring power under the ambit of GST.

“Bringing power under the ambit of GST – This has been requested through our pre-budget recommendations for several years. It is proposed that the electrical energy may be brought to the GST net with lower rate of GST or keeping it exempt from GST, refund of input credit should be given to the generating/transmission/distribution utility. This is a pending decision from the government,” CII said, while submitting its suggestions. While increasing healthcare infrastructure budget was a common request, the industry also asked the government to put aside fiscal considerations this year when considering its expenditure. 

Other requests from the captains of India Inc included special focus on low cost housing, increased allocation under the Pradhan Mantri Awas Yojana, special funds for the National Building Construction Corporation to complete stalled projects, incentivise social rental housing and fasttrack the implementation of the National Urban Rental Housing Policy (NURHP).

Imposition of basic customs duty

Industry body CII has also urged the Ministry of Finance in its memorandum submitted on Monday to impose the basic custom duty on solar equipment as announced in the last general budget, stressing that the delay in implementation is impacting investments.


TAGS
GST

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp