The government has decided not to impose safeguards duty on solar equipment from China and Malaysia, overruling the directorate general of safeguards’ recommendation of a 70% levy that had delighted local manufacturers but alarmed developers who felt that the steep rise in input costs would make projects unviable.
The Delhi High Court disposed of a petition challenging the proposed duty after the government’s counsel said the directorate general of safeguards’ recommendation was not binding. The counsel showed the court confidential minutes of a meeting held by the standing committee on safeguards, which had decided not to impose the duty.
Anand Kumar, secretary, ministry of new and renewable energy, confirmed there would be no provisional safeguard duty. “As of now there will be no duty,” he told ET. Read More
Latest posts by The Economic Times (see all)
- Crude futures fall after strong build in U.S. oil products stocks - July 18, 2019
- No power supply to discoms without bank guarantees - July 18, 2019
- Freak weather poses new risk to India’s renewables goals - July 17, 2019