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Tuesday, May 18, 2021

IGST waiver on imports of Covid-relief material

The Centre has already waived off customs duty on import of many Covid-related relief materials, including Remdesivir injection and its APIs, medical grade oxygen, oxygen therapy related equipment like oxygen concentrators etc, and Covid vaccines.

By: ENS Economic Bureau | New Delhi |
May 4, 2021 3:04:29 am
Last week, it had slashed IGST rate on import of oxygen concentrators for personal use to 12 per cent, from 28 per cent, for two months till June 30.

Citing exceptional circumstances due to the Covid-19 pandemic, the Finance Ministry on Monday granted ad-hoc exemption for levy of Integrated Goods and Services Tax (IGST) on the import of Covid-related relief material donated or received free of cost from outside India for free distribution. The exemption will be applicable till June 30.

The government had received a number of representations from charitable organisations, corporate entities, and other associations/entities outside India seeking exemption from IGST on the import of Covid-19 relief material, donated/received free of cost from outside India for free distribution, the Finance Ministry stated.

“Quick follow-up action in briefing chief secretaries of states on today’s order of IGST exemption on specified COVID-19 relief materials (customs duty waiver given earlier). Will speed up clearance for charitable organisations and others,” Finance Minister Nirmala Sitharaman tweeted.

The Centre has already waived off customs duty on import of many Covid-related relief materials, including Remdesivir injection and its APIs, medical grade oxygen, oxygen therapy related equipment like oxygen concentrators etc, and Covid vaccines.

Last week, it had slashed IGST rate on import of oxygen concentrators for personal use to 12 per cent, from 28 per cent, for two months till June 30. “Accordingly, the central Government has … granted exemption from IGST on import of such goods received free of cost for free distribution for Covid relief,” it said.

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