Central Govt. exempts Custom Duty on import of COVID-19 Vaccines:

Central Govt. exempts Custom Duty on import of COVID-19 Vaccines The Central Board of Indirect Taxes and Customs(CBIC) has exempt COVID-19 vaccines from basic Custom duty till 31st March, 2023 via issuing Notifications. This move aims to facilitate supply from SEZ units; however, Covid vaccines will attract 5% IGST. The Released Notification Stated, "In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods of the description specified in column (3) of the Table below, falling within the Chapter, heading, sub–heading or tariff item of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) specified in column (2) of the said Table, when imported into India by Central Government or State Governments, from the whole of the duty of customs leviable thereon under the said First Schedule." [caption id="attachment_192053" align="aligncenter" width="663"] Custom Duty on import of COVID-19 Vaccines[/caption] This notification come into force on 14th January, 2023 and remain in force upto and inclusive of the 31st March, 2023. For Official Notification Download PDF Given Below: