‘Tax Cuts on Car­bon Credit Sales to Ben­e­fit Lit­tle’

The Economic Times - - Budget: Day After -

Kolkata: Re­new­able en­ergy pro­duc­ers say they have noth­ing to gain from the Bud­get’s re­duc­tion of tax on in­come from sell­ing car­bon cred­its to 10% from 30%. They say the mar­ket for car­bon credit is al­most non-ex­is­tent and new projects in In­dia cease to be el­i­gi­ble for car­bon cred­its since 2012.

“Car­bon credit is a con­cept de­vel­oped by the EU and it ap­plies to coun­tries that form part of the least de­vel­oped coun­tries list. In­dia ceases to be part of this list since 2012 hence any project set up af­ter 2012 are not el­i­gi­ble for re­ceiv­ing car­bon cred­its,” said Kuldeep Jain, MD of CleanMax So­lar. In the Bud­get, the gov­ern­ment said car­bon cred­its were an in­cen­tive for com­pa­nies to cut of the emis­sion of green-house gases. — De­b­joy Sengupta

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