By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Reading: Solar cells: Government drops safeguard duty as high court reiterates stay
Share
Aa
Aa
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Search
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
BeFirsTrank > News > Solar cells: Government drops safeguard duty as high court reiterates stay
News

Solar cells: Government drops safeguard duty as high court reiterates stay

Loknath Das
Last updated: 2022/01/25 at 8:18 AM
By Loknath Das 3 Min Read
Share
SHARE

solar cells, battery powered solar cells, ubc, sollar cell innovation, science news, indian express

The finance ministry on Monday suspended the implementation of a safeguard duty on imported solar cells as the Orissa High Court last week reiterated via an interim order an earlier direction in this regard, which the ministry apparently did not heed. The court, hearing a writ petition against the imminent duty filed by local solar plant developers, had barred the government from imposing it till August 20, but the government went ahead and slapped the 25 per cent duty on July 30.

The duty on cell imports, analysts had said, could potentially raise solar power tariffs by 50 paise per unit and have significant implications for the country’s ambitious renewable capacity addition programme.

The ministry’s tax research unit said in a note to customs on Monday: “Vide notification … dated the 30th July, safeguard duty has been imposed on solar cells whether or not assembled in modules or panels… The undersigned has been directed to state that in compliance to the interim directions issued by the Hon’ble High Court of Orissa.., it has been decided not to insist on payment of safeguard duty, for the time being..”

However, the ministry added that till further directions are issued by the board, the specified solar cells would be assessed ‘provisionally’ in respect of the safeguard duty. The duty on solar cells — the basic ingredient needed to manufacture solar panels — was imposed for a year, ending July 19, 2019, and the tax was to reduce to 20 per cent for the six months till January 29, 2020, and 15 per cent for the subsequent six months.

Abhishek Jain, tax partner at EY India, said, “While this would provide interim relief from payment of safeguard duty to the solar cell importers, whether eventually it would be payable and be a cost or not would depend on the finalisation of the proceedings before the high court. Further, given that it is only an interim relief, whether the solar players should factor the safeguard duty as a cost or not would still be an important decision point.” When the duty was announced, Shashi Shekhar, vice-chairman of Acme Group, had said: “Either the order is erroneous or the (HC) stay was vacated by the Supreme Court, but we have to inform the HC about the development.”

[“source=indianexpress”]

You Might Also Like

Rent a McLaren for Your Next Luxury Trip

Qualities of Handicap Vehicles For Sale

The Advantages of Digital Marketing

U.S. State CIOs Pursuing Faster Digital Transformation

Fire At Europe’s Biggest Sand Dune In France Amid Record Heatwave

TAGGED: as, cells:, Court, Drops, duty, Government, High, reiterates, safeguard, solar
Loknath Das January 25, 2022
Share
Previous Article Royal Enfield Meteor 350 Review: The New Default 350cc RE You Should Buy in India
Next Article Exclusive: Volkswagen Targets Double Sales Volume In 2022

Calendar

March 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Dec    

Latest Trending News

  • Rent a McLaren for Your Next Luxury Trip March 2, 2023
  • Qualities of Handicap Vehicles For Sale December 10, 2022
  • Characteristics of Electric Road Bikes October 13, 2022
  • The Advantages of Digital Marketing October 12, 2022
  • U.S. State CIOs Pursuing Faster Digital Transformation July 28, 2022
  • CES 2022 Day 1 highlights: Sony confirms PlayStation VR 2, Samsung’s $899 portable projector, and more July 25, 2022
  • Fire At Europe’s Biggest Sand Dune In France Amid Record Heatwave July 22, 2022

© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?