Carbon credit & renewable energy certificate
This query is : Resolved
22 May 2018
whether Carbon credit & Renewable Energy Certificate are taxable under GST ????????
CA R SEETHARAMAN
(Expert)
23 May 2018
Carbon Credits is an incentive given to an industrial undertaking for reduction of the emission of GHGs (Green House Gases), including carbon dioxide which is done through several ways such as by switching over to wind and solar energy, forest regeneration, installation of energy efficient machinery, landfill methane capture, etc.
GST not applicable on it as it is a trading on incentive received.
Section 115BBG : Tax on income from transfer of carbon credits.
115BBG. (1) Where the total income of an assessee includes any income by way of transfer of carbon credits, the income-tax payable shall be the aggregate of—
(a) the amount of income-tax calculated on the income by way of transfer of carbon credits, at the rate of ten per cent.
GST not applicable on it as it is a trading on incentive received.
Section 115BBG : Tax on income from transfer of carbon credits.
115BBG. (1) Where the total income of an assessee includes any income by way of transfer of carbon credits, the income-tax payable shall be the aggregate of—
(a) the amount of income-tax calculated on the income by way of transfer of carbon credits, at the rate of ten per cent.
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