Solar Companies Still Waiting for GST Clarity and Refunds
Delay in GST reimbursements has affected smaller solar companies disproportionately
June 11, 2018
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India introduced its Goods and Services Tax (GST) on July 1, 2017, hailing the new tax mechanism as the most efficient way to curb rising tax evasion in the country. But so far, implementation challenges have bogged down the solar sector. Even after almost one year of coming into force, the ambiguities surrounding GST haven’t yet subsided. GST payments have been delayed for many importers and exporters, and engineering procurement construction (EPC) companies across the country. Other than the delay, uncertainty revolving around the applicable rates of GST on various goods and services required in a project continue to irk industry stakeholders.