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Grid scale battery storage may get a GST sweetener
Mint Mumbai
|June 27, 2023
Reduced rate of 5% being considered; inputs sought from Solar Energy Corp., NTPC
NEW DELHI: The power ministry is considering recommending slashing the goods and services tax on grid-scale battery storage to 5% in order to help India transition to an energy mix with a bigger share of renewables.
Goods and services tax on lithium-ion batteries used for utility or grid-scale power projects is 18% and for non-lithium ion batteries it is 28%.
“There is a consideration over the need for rationalization of GST. Talks are underway and the power ministry may suggest the finance ministry to recommend the GST Council for the rationalization," said a person in the know of the developments.
Another person said the ministry has also sought inputs from state-run Solar Energy Corporation of India Limited and NPTC on the need for rationalization of the tax.
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