India slaps 18% tax on solar cells and modules
India has proposed an 18% sales tax for solar cells and modules.
The country is establishing a national Goods and Services Tax (GST) with the rates for different sectors and products announced on Friday.
There is still scope for changes to the rates before they are set in stone. Solar cells and modules will be levied at 18% with coal seeing an additional 5% charge. Indian tenders at national and state level have secured a number of record low bids in recent months.
Despite the increase, Union minister for power, coal, new & renewable energy and mines, Piyush Goyal, told a press conference that higher tax rate would not slow down the growth of solar.