Sonali Maity | Oct 4, 2021 |
CBIC exempts Import of COVID-19 Vaccine from Customs Duty
On Thursday, the Central Board of Indirect Taxes and Customs (CBIC) announced that imports of COVID-19 vaccine will be exempt from Customs Duty from October 1 to December 31.
In a notification, the Board stated, “The Central Government, upon being satisfied that it is required in the public interest to do so, thus exempts the commodities of the sort mentioned when imported into India from the entire duty of customs leviable.”
The government has designated ‘COVID-19 vaccine’ as an exemption for any vaccinations imported into the country.
Currently, these vaccines are subject to a 10% customs tariff. Imports of Covid vaccinations were spared from customs tax for three months by the government in April.
The government has exempted some Covid therapeutic drugs from the levy and reduced the tax on other materials, but the Covid vaccines remain to be subject to a 5% GST.
To Read the Official Notification Download PDF Given Below :
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