Indian Finance Minister Pranab Mukherjee said in his annual budget speech on the 16th that the government will adopt tax-free incentives for imported solar thermal equipment. The budget also proposes to reduce the cargo tax on LED lights to 6%, and Lithium-ion batteries used in hybrid vehicles are also tax-free.
According to reports, India's exemption from import tariffs on solar thermal equipment will reduce the cost of construction of seven companies (accounting for one-third of India's planned solar thermal power generation). The cost of solar developers such as Reliance Power Ltd. can be reduced when they are built. It is understood that India's special compensation tax is equivalent to the domestic goods tax rate (about 8-9%). Seven Indian solar thermal companies, including Reliance Power, are expected to generate 470 MW of power in 2013.
According to reports, India's exemption from import tariffs on solar thermal equipment will reduce the cost of construction of seven companies (accounting for one-third of India's planned solar thermal power generation). The cost of solar developers such as Reliance Power Ltd. can be reduced when they are built. It is understood that India's special compensation tax is equivalent to the domestic goods tax rate (about 8-9%). Seven Indian solar thermal companies, including Reliance Power, are expected to generate 470 MW of power in 2013.
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