GST cut to save up to `1.5 lakh cr for investors in renewable energy: Pralhad

GST reduction on renewable energy will save up to `1.5 lakh crore for investors till 2030, Union Minister Pralhad Joshi said on Monday. The comments from the Union New & Renewable Energy Minister assume significance as Monday is the first day of implementation of the Goods and Services Tax reduction. In a bonanza to consumers, the GST Council, comprising the Centre and states, decided to reduce tax rates on goods and services, from September 22 — the first day of Navratri. The GST cut will give a significant boost to India’s ambitious target of having 500 GW of renewable energy by 2030.