Preparations for the new year 2023 have already begun with the list of recommendations and expectations being released for the upcoming Budget 2023 by various industry associations. These recommendations and expectations are aimed towards providing a boost to growth in various sectors and industries. This is also the need of the hour for the economy to progress.
Watch on LawWiser what are some of these initial expectations from the budget 2023, which we cover in this part 2 of the video. In this video we cover the expectations of the Energy and Renewable Energy Sector:
– consider bringing petroleum products, electricity tariffs, and real estate under GST at some stage over the medium term.
-Provide PLI benefits to Wind Turbine (OEMs) and component manufacturing for the development of new megawatt size turbines
– Suitable amendments be made in Section 115BBG of the Act to ensure that the benefit is not restricted only to carbon credit units validated by the United Nations Framework on Climate Change.
– To define what constitutes the climate change sector under the Income-Tax Act, 1961, to clearly identify the types of sub-sectors or projects eligible for fiscal benefits.
Watch all this and much more in this video. Stay tuned for more such videos where we will be covering expectations of other sectors and industries from the upcoming budget.