Taxation on sale of rec certificates

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

03 June 2013 DEAR ALL

CAN ANY ONE UNDERSTAND ME THE TAXATION ON SALE OF REC(RENEWABLE ENERGY CERTIFICATES).

IS THIS LIABLE TO VAT/SALES TAX ?

IS THIS A COMMODITY/GOOD ?

THANKS & REGARDS
HKK

VASANTH D JAGANATH

VASANTH D JAGANATH (Expert)
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10 June 2013 Renewable Energy Certificates (RECs)represent the attributes of electricity generated from renewable energy sources. These attributes are unbundled from the physical electricity and the two products-the attributes embodied in the certificates and the commodity electricity-may be sold or traded separately, if these certificates are traded as certificates like rep license and exim scrips which has the intrinsic value can be treated as goods attracts tax for your information refer sunrise associates case apex court decsion reportedd in [2006] 3 vst 151