September 10 (Renewables Now) - India’s Supreme Court has invalidated a previously put stay order on the imposition of a 25% safeguard duty on solar product imports into India.
The stay order was issued last month by the Orissa High Court, a month after the government’s decision to impose safeguard duties on the imports of photovoltaic (PV) cells and modules from China and Malaysia. Other developing nations are exempt from the tariffs.
Without the stay order, the safeguard duties would have been levied with effect from July 30. The plan is for the 25% duty to be in effect for one year and then be reduced to 20% for a six-month period. Then it will fall to 15% in the final six-month period ending in July 2020.
An unnamed source at the Supreme Court told consultancy Mercom Capital that the order is Supreme Court interim and a hearing is to be held in October. The consultancy, meanwhile, cited an industry source as saying that developers who had their PV module shipments released by providing bonds may now be required to pay the duty.