GST NEWS
Maharashtra regulator allows Adani Power to recover GST expenses
Maharashtra regulator allows Adani Power to recover GST expenses
Aug 9, 2018

The Maharashtra Electricity Regulatory Commission (MERC) has allowed Adani Power to recover additional expenses incurred by its subsidiary Adani Power Maharashtra (APML) due to introduction of the goods and service tax (GST). The company put the total impact of the GST to be Rs 0.35 per unit, which amounts to about Rs 402.5 crore till February 2018. APML had filed a petition with the MERC in April to adjust tariffs of electricity sold to the state from its 3,300 MW Tiroda power plant. The company sought the electricity regulator’s approval to offset financial consequences of GST and evacuation facility charge by Coal India (CIL).

The GST came into effect from July 1, 2017, and CIL imposed a flat Rs 50 per tonne evacuation facility charge from December 20, 2017. The company had argued that both these additional charges came under the ‘change in law’ provision, which warrants compensation to restore the affected party “through monthly tariff payments to the same economic position as if such change in law had not occurred”. However, the MERC did not declare imposition of CIL’s evacuation facility charge as a change in law. APML estimated that this charge cost the company about Rs 11 crore.

Source :  Financial Express

Top Stories
Revised GST Tax Rates To Go Live On July 27: Several Home Appliances To Be Taxed At 18 Percent
The GST Council entrusted with placing consumer goods and services in multiple tax slabs, removed se...
Jul 25, 2018
149 Views
GST rate cut: Consumer electronics, kitchen appliances, leather items, footwear get cheaper
In its 28th meeting, the GST Council gave its approval to slash tax rates on over 100 items that wer...
Jul 22, 2018
164 Views
Income Tax department seeks GST and GAAR details in new audit form
The Income Tax department has changed a form in the tax audit report, seeking details of the goods a...
Jul 25, 2018
133 Views
GST rate cut to bring renewed interest in beneficiary stocks
The GST council’s monsoon bonanza for consumers in reducing rates on several general use items is li...
Jul 24, 2018
132 Views
No GST refunds for foreigners
Foreigners coming to India may not get the go­ods and services tax (GST) refunds on goods purchased ...
Aug 7, 2018
107 Views
Articles on GST