New Import Tax On Solar Equipment
India’s renewable energy ministry has proposed imposing customs duty on some solar power equipment starting Aug. 1 as part of the country’s goal of becoming self-sufficient. The ministry has proposed taxing imports of solar cells, modules and inverters. The decision comes amid recent border skirmishes with China, which accounts for nearly 80% of module supplies in the country. Indian Prime Minister Narendra Modi gave a call for self-reliance, echoing a global sentiment to diversify supply chains in the post-pandemic world. Recent border tensions with China have made that campaign more urgent. A clear trajectory of customs tax will be declared in due course. India currently levies safeguard duty on imports of solar cells and modules from China and Malaysia. That tax expires at the end of July.
Tags : ALLIED Renewable Energy Solar Equipment New Import Tax customs tax