CBDT Exempts Power Trading From New TDS & TCS
The Central Board of Direct Taxes (CBDT) recently issued new guidelines for the applicability of Tax deducted at Source (TDS) and Tax collected at source (TCS). According to the new guidelines, e-commerce operations which include transactions in electricity and trading of clean energy certificates (REC and ESCerts) are not subjected to TCS or TDS. CBDT clarified that the TCS is to be collected and paid to the government on all payments received on or after 1st October, 2020 which includes the amount of GST and on sales made prior to 1st October.
IEX Electricity Market Trades 5675 MU in Sept’20; Registers 45% YoY Increase
The electricity market at the Indian Energy Exchange traded a volume of 5675 MU in September’20 seeing a significant 45% YoY increase while the national peak demand in the same period saw a 2% YoY increase and energy consumption recorded a 6% YoY increase, according to the data published by the NLDC. The day-ahead market cleared volume of 4781 MU during the month. The market continued to witness high sell side liquidity with the total sell bids at 9669 MU being more than twice of the cleared volume. With robust sell side liquidity, the average market clearing price at Rs. 2.69 per unit saw a decline of 3% on a YoY basis over Rs 2.77 per unit in September’19 helping both the distribution utilities and industries to accrue significant financial savings.
KoSo Provides Long-term Uniform Observations of the Sun: Dr. Banerjee
Scientists may soon be able to study the future magnetic activity of the sun with the understanding of its behaviour in the past. A magnetic field map corresponding to the first half of the last century has been developed recently that can immensely improve that understanding. Just like in the case of climate studies, astronomers need information of the behaviour of the Sun in the past to predict how it will behave in the future. A critical parameter of the behaviour is the magnetic field which keeps varying and governs the long-time changes in the Sun.
Future Power Bids To Include Bids For Advanced Technology: R. K. Singh
Harbouring on the perfect timing to bring together various market players and catalyze cutting-edge PV manufacturing in India, NITI Aayog, Ministry of New & Renewable Energy (MNRE), and Invest India together organized a global symposium ‘India PV Edge 2020’ on October 6, 2020. It was one of its kind platforms for global cutting-edge technology providers, equipment makers, and PV champions to present their technologies to the Indian stakeholders who are drawing up their PV manufacturing plans and collaborate, thus boosting the ‘Make in India’ campaign. The participating companies also had the opportunity to hear from the Indian policymakers involved in developing manufacturing schemes. Around 60 prominent Indian and global CEOs attended the event.
RPO Target For Augmented Capacity Must Be Equal To RPO Target Applicable: MERC
Maharashtra Electricity Regulatory Commission (MERC) passed an order on waiver of difficulty in RPO-REC Regulations. Commission states that in exercise of power under Regulation 19 of RPO-REC Regulations 2016, the Commission rules that the composite RPO targets for the CPPs commissioned before 1 April 2016 shall be 9% for the Operating Period of such Regulations, Provided that in case of any augmentation of the Captive Generating Plant, the RPO target for augmented capacity shall be equal to the RPO target applicable for the year in which such augmented capacity has been commissioned.
MNRE To Discuss Issues Related To India’s Solar Manufacturing Sector On India PV EDGE 2020
To catalyze cutting-edge PV manufacturing in India, NITI Aayog, Ministry of New and Renewable Energy, and Invest India, are organizing a global symposium virtually, ‘India PV EDGE 2020’ was scheduled on October 6, 2020, from 5–8.40 pm. Cutting-edge giga-scale solar manufacturing stands on three pillars: (i) disruptive PV chemistries, (ii) manufacturing by custom-engineered advanced production equipment, and (iii) utilisation of innovative BOM components like special glasses and coatings. That is why companies involved in all the three pillars are invited to present and engage the Indian industry in the symposium, which will catalyze the momentum for further discussions and collaborations.
NHPC Appoints R.P. Goyal As Director Of Finance
R.P. Goyal has taken over as Director (Finance) at NHPC Limited, India’s premier hydropower company and a Schedule ‘A’ Enterprise of Government of India on 1st October 2020. oyal joined NHPC on 18th November 1988 as Senior Accountant and he has risen the professional ladder by virtue of utmost sense of responsibility, ethics and dedication to the Corporation. Before assuming his present assignment as Director (Finance), he was working as Chief General Manager (Finance) and heading the Corporate Accounts & Policy, Taxation, Banking, Establishment and Investor Relations functions.
TP Renewable Microgrid Ltd. Partners With Airtel Payments Bank to Enhance Customer Convenience
TP Renewable Microgrid, a 100% subsidiary of India’s largest private utility, the Tata Power Company Limited, and Airtel Payments Bank, India’s First Payments Bank, announces a partnership under which Rural Consumers of TP Renewable Microgrid in Bihar and UP will be able to pay their electricity bills at Banking Points of Airtel Payments Bank. The bill payment service at the Banking Points will be rolled-out in a phased manner. To begin with, services went live in Gonda and Bahraich district in Uttar Pradesh, and Muzaffarpur district in Bihar on 2nd October 2020.
NTPC Organised Vendor Meet Reinforcing Reduction Of Imports And Focus On Atmanirbhar Bharat
India’s largest power producer, NTPC Ltd, organised a Vendors Meet on a digital platform reinforcing reduction of imports and to focus on Atmanirbhar Bharat. shok Kumar Juneja, Executive Director, Corporate Contracts & Materials, NTPC ltd. inaugurated the Vendor Meet and emphasised that imports need to be reduced to make ‘Atmanirbhar Bharat’ a success. He also stated that NTPC will encourage and support its vendors for indigenous manufacturing. Through this Vendor Meet, NTPC aims to seek feedback from the vendors and plans to consider their opinions to improve the company’s system(s). About 160 vendors of NTPC took part in the virtual meet.