Lawstreet Journal

Center Plans to Apply Basic Customs Duty on Imports of Solar Sector Equipment

Lawstreet Journal 25 Jun 2020 1:29am

Image courtesy: Lawstreet Journal Executive Center Plans to Apply Basic Customs Duty on Imports of Solar Sector Equipment

In a bid to promote Aatmanirbhar Bharat scheme of the government and reduce import dependence on China, the Central government is considering imposing a Basic Customs Duty (BCD) of around 20 percent on solar energy equipment. The move will encourage domestic production and help in curbing imports, especially from China.

R K Singh, the Union Minister of State for Power, New and Renewable Energy, announced that a basic customs duty (BCD) would be imposed on imports of solar cells and modules. The minister said that the duty would take effect in August 2020. The minister also informed that a restructuring would take place regarding financing by PFC, REC, and IREDA. This would help in charging lower rates of interest to the developers who will use domestically manufactured equipment. He also asked the industry not to import any equipment/goods which can be manufactured domestically.

On the other hand, solar energy developers are of the view that BCD should not be imposed on solar equipment, as it could be inimical to the sector. Director-General of Solar Power Developers Association (SPDA), Mr. Shekar Dutt, said, “Proposal to impose BCD of 20 percent on cells and modules is counterproductive to the growth of overall solar power sector in the country.” He pointed out that SDG barely resulted in an increase of domestic manufacturing of cells/ modules.

He suggested that the necessity right now is to develop a comprehensive strategy to build an ecosystem that can promote the production of the entire value chain of solar modules which… Continue Reading...


Tagged: Power System Operation Corporation  
Disclaimer: SoOLEGAL in Media collaboration with Lawstreet Journal. SoOLEGAL take no responsbility for the content provided by Lawstreet Journal. For any discrepancies Contact Lawstreet Journal.
Did you find this write up useful? YES 0 NO 0
Featured Members view all

New Members view all

×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.