Adani Green, Waaree Energies and other renewable energy stocks in focus as GST cut to 5% from 12%
[hfe_template id='11223']
[ad_1]
Renewable energy stocks like Adani Green, Tata Power, NTPC Ltd, and Waaree Energies are likely to be in focus on Thursday after the Goods and Services Tax (GST) Council slashed taxes on solar cookers, solar water systems, and related parts to 5% from 12%, a move seen easing costs for developers and accelerating the shift to clean energy. The GST Council, in its 56th meeting held in New Delhi on September 3, reduced the tax on renewable energy devices and parts used for their manufacture, from biogas plants, windmills, wind-operated electricity generators, waste-to-energy plants, photovoltaic cells, solar cookers, and solar water systems, to 5%. “GST has been reduced from 12% to 5% on renewable energy devices and parts for their manufacture such as biogas plants, windmills, wind-operated electricity generators, waste to energy plants, devices, PV cells, whether or not assembled in modules or made up in panel, solar cookers, solar water hea...