VERIFIEDET Finance·3 Aug 2026neutral

Renewable energy developers seek GST cut on battery storage systems to 5%

AI Summary

·Renewable energy developers are requesting a reduction in GST on battery storage systems to 5%.
·This proposed tax cut aims to accelerate the deployment of renewable energy projects.
·A lower GST rate is expected to decrease the cost of energy storage, which is crucial for meeting India's 2032 energy storage capacity targets.