Source: Bloomberg
“India more than halved a tax rate on domestic sales of renewable-energy equipment, as part of a raft of measures to shore up local consumption and shield the economy from punitive US tariffs. Goods and services tax on equipment including solar panels and parts for windmills and biogas plants was reduced from 12% to 5%, according to the finance ministry, lowering costs for consumers and potentially accelerating capacity installations. The tax panel recommended the changes come into effect from Sept. 22. … The tax reduction — though designed mainly to soften the blow from tariffs on America’s imports of Indian goods — comes as India seeks to install record volumes of solar and wind energy to meet its climate goals for 2030 and beyond.” (09/04/25)