Custom Duty Solar Panels

Import duty on solar panels in pakistan.

Custom duty solar panels.

Solar panel customs duty 3. Hs code for solar panel 8541 4000. When calculating us duty rates on solar panels from china you need to remember about checking the additional tariffs. To incentivise domestic manufacturing of solar modules and cells the government is planning to introduce a basic customs duty bcd on import of equipment for the sector.

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. 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. 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. Once a separate notification is issued a new duty structure enabling a basic customs duty of 20 on solar cells and modules will come into effect the move is in a bid to boost local manufacturing.

In matters of current us and china trade war in 2018 the trump administration put 30 tax on imported solar cells and panels which is to decline annually and reach 15 in 2021. Developers have been keenly awaiting such a clarification since the duty will impact their cost of setting up a project and. 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. India is planning to impose a 20 per cent basic custom duty bcd on solar modules solar cells and solar inverters from august with a view to discourage imports from china.

China customs statistics trade data. 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. A 20 percent basic customs duty had been announced in the last budget but has not been imposed yet. India had imposed 25 per cent safeguard duty on solar cells for july 30 2018 to july 29 2019 period.