The Ministry of New and Renewable Energy (MNRE) recently announced imposing basic customs duty (BCD) on imported solar cells and modules that will come into effect starting April 1, 2022. The ministry has imposed 40 % BCD on solar modules and 25% on solar cells .
Sumant Sinha, CMD, ReNew Power sharing his views on the imposition of the BCD said “The Union Government’s announcement on imposition of Basic Customs Duty on imported solar cells and modules will provide a level playing field to domestic manufacturers and give a big boost to the Prime Minister’s vision of an Aatmanirbhar Bharat.”
He added “The implementation date of April 2022 ensures that already contracted bids are not impacted and renewable energy players can factor in the new cost of solar cells and modules in the upcoming bids. “