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Relax, GST won’t impact your power bills next month
Electricity tariffs will not rise after the Goods and Services Tax (GST) regime gets implemented from July 1, power, coal, renewable energy and mines minister Piyush Goyal said on Thursday.
He said 75 industry associations that he met in the day had given unanimous support to the GST rollout from July 1. “We don’t foresee any upward impact on power tariffs from the GST,” he said. “Not a single participant at today’s meeting requested deferment (of GST implementation),” the minister told reporters after meeting industry executives in New Delhi.
Goyal said the technical issues about rollout of GST in power, coal and mines sector have been largely resolved, except two issues. He said that these issues would be flagged off in the next GSTN council meet. The minister said one of the unresolved issues concerns fly ash, which is an environmental friendly product, but the ministry was not in favour of a separate classification for it under the GST.
The other issue was a dual slab rate structure for cable industry products, which may require a re-look. To a query whether the lower GST of 5% on coal would help reduce power tariffs, Goyal said he would meet the forum of regulators on Friday to discuss ways to transmit the benefits of tax reduction to consumers.
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