Companies that respond to the government’s plan to gasify coal may be reimbursed the goods and services tax that they pay on buying the fossil fuel, said two people aware of the development amid a cool response by investors.
In 2020, Centre announced an ambitious plan to gasify 100 million tonnes of coal by 2030, but it is yet to gain momentum because companies do not see it as economically viable.
As a result, some new incentives are likely to be announced in the next six months, said the people cited above.
“The government will invite private investors for coal gasification and new incentives, including GST reimbursement, assured coal supplies from Coal India Ltd as in the power sector, among others. The idea is to provide support towards capital cost and taxes. We may reimburse the GST on the coal used for gasification," said one of the two persons.
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