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The taxes lowered in Budget 2017 to boost renewable energy development

The taxes lowered in Budget 2017 to boost renewable energy development

In Budget 2017, the Finance Minister has proposed zero (from 5% before) basic customs duty (BCD) on solar tempered glass for use in manufacture of solar cells/panels/modules. At present BCD on those is 5 per cent. Similarly, he proposed to reduce countervailing duty (CVD) on parts/raw materials for manufacture of solar tempered glass.

The budget has also proposed to reduce excise duty on these materials to 6% from existing 12.5%. It is also proposed to reduce the BCD, CVD and SAD(Special Additional Duty) of 24% on resin and catalyst for manufacture of cast components for Wind Operated Energy Generators to 5%. Budget has also proposed zero excise duty on these materials from existing 12.5%.

All items of machinery required for fuel cell based power generating systems to be set up in the country or for demonstration purposes attract BCD, CVD and SAD of 30% which would be reduced to 11 per cent. The budget has proposed to reduce excise duty on these items to 6% from existing 12.5%.

Similarly, it is proposed to reduce BCD, CVD and SAD of 30% on all items of machinery required for balance of systems operating on biogas/bio-methane/by-product hydrogen to 11%. The budget has also proposed to reduce excise duty on these materials to 6% from 12.5%. read more →

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Read more news items on: Biomass Energy, Biogas, Hydrogen Energy and Fuel Cells, Solar Energy, Wind Energy,  


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