New Delhi: The government on Saturday announced the removal of 20 percent import duty on solar cells and panels in the budget. It has come into force with immediate effect. According to the budget document, the customs duty on solar cell and module enabled solar cells has been reduced from 20 percent to zero.
India has already installed 34,000 MW of solar power in the country. This is significant with the goal of installing 1,00,000 MW of solar power capacity by 2022 in the country. Earlier, in July 2018, the government imposed a 25 percent safeguard duty for two years on solar cells imported from Malaysia and China.
The aim was to provide relief to domestic companies from imports. This fee was levied from 30 July 2018 to 29 July 2019.
(This news has not been edited by SugerMint staff and is auto-generated from a syndicated feed.)
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