Acme Cleantech Solutions moves High Court against import duty

Acme Cleantech Solutions has filed a petition with the Madras High Court against the import duty charges levied on solar panels and modules at Chennai port. As per the petition, since September 12, 2017, Acme has furnished bank guarantees totalling Rs 60.5 million as import duty and a provisional bond of Rs 661.1 million for the release of consignments that arrived at Chennai port. Further, Acme will need to pay an additional Rs 1,620 million as duty over the next six months for importing about 5,000 containers of solar modules worth Rs 21,000 million. According to the company, customs officials are not following proper procedures in their assessment of the import duty.