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Biomass gasification based power plants can also avail of accelerated depreciation benefits, details of the same are provided below.
Item |
Description |
Accelerated Depreciation |
According to IREDA 100 % depreciation in the first year can be claimed for the following power generation equipment According to MNRE 80% depreciation in the first year can be claimed for the following equipment required 1. Back pressure, pass-out, controlled extraction, extraction–cum-condensing turbine for co-generation with pressure boilers 2. Vapour absorption refrigeration systems 3. Organic rankine cycle power systems 4. Low inlet pressures small steam turbines |
Income Tax Holiday |
Ten years tax holidays. |
Customs and Excise Duty |
Concessional customs and excise duty exemption for machinery and components for initial setting up of projects. |
General Sales Tax |
Exemption is available in certain States |
Source: http://www.mnre.gov.in/
Related Links
- Why Biomass Power?
- Indian Power Production Scenario
- Need for Biomass Power in India
- Benefits of Biomass power
- Potential for Biomass Power in India
- Biomass Power in India- Key Highlights
- Biomass-based Power Production Methods
- Biomass Gasification Technology
- Current Status of Biomass Gasification in India
- Government Subsidies for Biomass Gasification Power Plants
- Government Incentives for Biomass Power Projects