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Web Exclusive | July 2017

Coal prices reduce by 2-3% for power sector

Post GST implementation, effective coal prices — notified price plus taxes — have decreased by 2-3 per cent for consumers from the power sector, as the new tax structure abridges several additional taxes. Coal attracts 5 per cent tax under the new tax regime compared to 12 per cent tax earlier. Prevailing local taxes, environmental taxes and other hidden charges have effectively brought down the tax rate by 2-3 per cent, instead of seven per cent. "In effect, the effective tax rate on coal has reduced by 2-3 per cent, which is also considerable given the volumes the coal consumers purchase," an official at the Coal Consumers Association said.

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