JSA successfully represented Tata Power Renewable Energy Limited before Ld. Karnataka Electricity Regulatory Commission, in proceedings seeking Change in Law compensation, to offset recurring and non-recurring impact on it, on account of issuance of Notification Nos. 24 & 27 of 2018-Central Tax (Rate) dated 31.12.2018 by the Ministry of Finance. By the said Notification, the rate of GST payable was effectively increased to 8.9% on EPC Contracts.
The issues under consideration before Ld. KERC relates to scope of Change in Law provision under the PPA, interplay between the GST Laws and Electricity Act and powers of Regulatory Commissions in dealing with GST Laws.
By its Order dated 28.03.2023, Ld. KERC has upheld the contentions of TPREL and allowed a compensation of approximately Rs. 28.67 Crores payable to TPREL, along with Carrying Cost.
Our Dispute Team Comprised Partner – Kunal Kaul, Associate – Manasvi Sharma, and Junior Associate – Ayyanna Sharanappa.