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After GST Council's Recommendation, CBIC Notifies IGST Exemption To Import Of COVID Vaccines, Medical Supplies
Covid-19 vaccine. (Representative image)
The Central Board of Indirect Taxes and Customs (CBIC) on Tuesday (1 June) notified Integrated Goods and Services Tax (IGST) exemption to import of Covid-19 vaccines, remdesivir injections and its raw materials and other medical supplies used in treatment till 31 August.
The development comes after the GST Council headed by Union Finance Minister Nirmala Sitharaman decided to exempt import of Covid related relief materials irrespective of the mode of procurement -- paid or free of cost -- from the payment of integrated GST (IGST) till August end.
Further, imports of mucormycosis treatment drug Amphotericin B have also been exempted from IGST till the same period, reports Economic Times.
On Friday (28 May), as a Covid-19 relief measure, the GST Council recommended that "a number of specified Covid-19 related goods, such as medical oxygen, oxygen concentrators and other oxygen storage and transportation equipment, certain diagnostic markers, test kits and vaccines etc" should be exempted from IGST, even if imported on payment basis, for donating to the government or on recommendation of state authority to any relief agency.
These goods are already exempted from basic Customs duty.
Meanwhile, the GST Council also constituted a Group of Ministers (GoM) to look into the need for further relief to Covid related individual items immediately. The GoM will submit its report by 8 June.
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