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India

India

Government undertaking tax credit considerations

More than 18 months after the wind industry called for a revision of India's tax incentive system to reward production of electricity rather than mere ownership of wind power plant (Windpower Monthly, April 2005), the government is still examining the idea. The Ministry of New and Renewable Energy Sources (MNRES) has appointed the World Institute of Sustainable Energy (WISE) to look at the viability of changing to a production tax credit rather than a tax credit based on investment in installed capacity. WISE is to report back in six months. The decision follows allegations by the income tax authorities that depreciation claims are being made by owners of wind plant that are not generating electricity.

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