Whalesbook
The Central Electricity Regulatory Commission (CERC) has mandated that renewable energy developers must use audited records to reconcile the impact of the recent Goods and Services Tax (GST) reduction on renewable energy devices and parts. The GST rate was cut from 12% to 5%. Developers must now prove cost savings through clear documentation, including auditor certificates, before claiming tariff adjustments or refunds, enhancing scrutiny over 'change-in-law' claims and enforcing stricter compliance for developers and distribution companies.