Custom Duty On Solar Panels In India Post Gst

The safeguard duty of 25 percent on solar modules and cells will be in force from july 30 2018.

Custom duty on solar panels in india post gst.

The solar power sector had so far enjoyed tax exemption. India had imposed 25 per cent safeguard duty on solar cells for july 30 2018 to july 29 2019 period. The government has levied safeguard duty of 25 percent on solar imports from china and malaysia. With the proposed 18 gst on solar panels the industry got apprehensive of a considerable increase in project costs.

India custom duty import duty and import tariffs from chapter 1 to 98 after gst. If the rooftop solar systems which includes solar panels come under 5 gst across india as it seems from the paper published by the gst council then it is a big step forward and the residential commercial and industrial consumers should take up this opportunity to go solar with a uniform tax rate. Till now there used to be no customs duty on imported solar panels which constitute 55 of the total cost of a solar pv project. With this year s union budget scheduled to be tabled on 1 february 2020 renewable energy industry s expectations are high and all eyes are on finance minister nirmala sitharaman making big bang announcements for the sector.

While a majority of the industry stakeholders expect some sort of restructuring in the goods and services tax for solar and wind energy equipment others. It will further come down to 15 per cent during january 30 2020 to july 29 2020. The federal board of revenue asked to issue necessary instructions or notification to relevant customs departments in this regard. Custom duty on solar panels in pakistan import solar product in pakistan without customs duty and sales tax.

Basic import duty 10 igst 28 levy on solar inverter. The ministry of finance department of revenue levied the duty based on the final recommendations proposed by the directorate general of trade remedies dgtr. Prime minister approves custom duty on solar panels in pakistan to promote alternate energy resources. Check custom duty in india import duty and import tariffs by product name or hs code from chapter 1 to 98 after gst goods and services tax.

India imported 2 16 billion worth of solar photovoltaic pv cells panels and modules in 2018 19. Calculate custom duty rates through import duty calculator with your own cif value or assess value. 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. There has been a significant increase in imports of solar cells in absolute terms.