The Indian Government announced on Thursday that it has granted full exemption from Central Excise Duty to goods procured for setting up Ultra Mega Power Projects based on super critical coal thermal technology, from which power procurement has been tied up on the basis of tariff based competitive bidding.
The Indian authorities explained that:
"The exemption is applicable to goods procured for projects which are set up under Government of India initiative and have an installed capacity of 3960 MW or above."
"Certain conditions have been prescribed for availing the benefit of the exemption, which came into effect from the 14th of August, 2008."
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