After announcements that India will hit solar cells and modules with an 18% tax under the new Goods and Services Tax (GST) Bill, some confusion has arisen about what level the tax will actually be set at.
The Solar Energy Corporation of India (SECI) has reduced the solar capacity to be tendered on government buildings from 1GW to 500MW after its latest buildings survey came out with the lower potential figures.
Plenty of uncertainty surrounds the potential effects of India’s forthcoming Goods and Services Tax (GST) Bill, but the cost of solar could go up by as much as INR4.5 million/MW (US$67,000), according to a new study from the Council on Energy, Environment and Water (CEEW).
Falling Chinese module prices may come to the rescue of solar developers in India who have put in aggressive bids on the assumption that solar equipment prices will fall no matter what, according to Mercom Capital Group’s latest market update.
The Indian government seems ready to push through the much anticipated Goods and Services Tax (GST) bill in Parliament. Jasmeet Khurana, associate director, consulting, Bridge to India, explains the expected cost increases coming as a result.