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MNRE:Imposed The Basic Customs Duty On Import Of Solar PV Cells AndModules And Also Hiked In Rates Of GST Under Change-In-Law

MNRE, with effect from 1st April, 2022, imposed 25% Basic Customs Duty (BCD) on import of solar PV cells and 40% on solar PV modules. Also, the GST rates for specified renewable devices and manufacturing of their parts have increased from 5% to 12%.

What is 'Chang-in-Law'?
Change in Law means the occurrence, after the date of this Agreement, of any of the following:
  1. the adoption or taking effect of any law, rule, regulation or treaty,
  2. any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority or
  3. the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary.

Example: If there is a Change in Law that renders this Agreement unenforceable or illegal, then either you or Company may terminate the Agreement without the consent of, and upon thirty days' notice to the other party, without any obligation, payment or otherwise.

In the above case the imposition of safeguard duty on the import of solar cells and modules, pursuant to the safeguard duty notification would qualify as a Change in Law Event in terms of the PPA.

BCD imposition and hike in GST as Change-in-Law.

Wherein the last sate of bid submission was on or before the announcement on 9th March 2021, imposition of BCD will effect from 1st April, 2022 and wherein Scheduled Commissioning Date (SCD), including time extensions granted, if any, was on or after 1st April, 2022, REIS's may considering imposition with effect from 1st April 2022 under 'Change-in-Law' unless the same is disallowed by specific provisions in the tender documents/contracts.

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