India Solar Panel Import Duty

The duty typically imposed during import surges is meant to protect domestic manufacturers. In july last year india had imposed a safeguard duty on imports of solar cells from china and malaysia for two years to protect domestic players from steep rise in inbound shipments of the product. The economic times newspaper has reported the indian government is considering levying a basic customs duty of 20 25 on imported solar panels from august with the tax to rise to 40 within a year.

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A 20 percent basic customs duty had been announced in the last budget but has not been imposed yet.

India solar panel import duty.

It is now bound to hike solar power tariffs in india since around 90 of panels the sector uses are. Hs code of 85414011 solar cells not assembled indian hs classification 85414011 harmonised code 85414011 duty structure solar cells not assembled. Solar cells whether or not assembled in modules or panels updated india import duty and custom duty of customs tariff of 2006 2007 2008 and 2009 in single view. Markets policy solar.

The ministry of finance. The directorate general of trade remedies dgtr has recommended a 25 percent safeguard duty on solar cell imports from china and malaysia for the first year followed by a phased down approach for a second year. India had imposed 25 per cent safeguard duty on solar cells for july 30 2018 to july 29 2019 period. The government on saturday announced removal of 20 per cent import duty on solar cells and panels in the budget with immediate effect according to the budget documents the customs duty on solar cells and solar cells assembled in modules or made up into panels was reduced from 20 per cent to zero per cent.

Government officials said that price increase due to this duty will not be more than rs 250 per tv dismissing claims of substantive price hikes being put forth by the industry. Solar cells would attract 15 customs duty from august the times reported quoting minister for new and renewable energy rk singh with that figure to rise to 30. India imposes 25 safeguard duty on solar imports the indian government has imposed a safeguard duty of 25 on solar imports from china and malaysia for two years. India will impose a 5 customs duty on imports of open cell for televisions from october 1 2020 as the government seeks to increase local manufacturing and value addition.

The ministry of new and renewable energy is likely to clarify the matter of basic customs duty bcd on imported solar equipment within the next two months. 25 safeguard duty on solar imports to india recommended.

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