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Govt exempts Covid-19 medical equipment from customs duty
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SME Times News Bureau | 10 Apr, 2020
The government on Thursday exempted various medical equipment from levy
of basic customs duty and health cess in order to allow cheaper imports
of these critical devices that are required in large numbers in the
country to contain coronavirus pandemic.
The basic customs duty exemption will be applicable until September 30 so that enough time is available for imports.
The
exemption has been given for imports of ventilators, face masks,
surgical masks, personal protective equipment (PPE), Covid-19 test kits
and all inputs that go into manufacturing of these devices.
"In
the context of COVID-19 situation, considering the immediate requirement
of ventilators and other items, the Central government has granted
exemption from basic customs duty and health cess, on the import of
following goods, with immediate effect: a. Ventilators, b. Facemasks,
surgical masks, c. Personal protection equipment d. COVID-19 test kits
e. Inputs for manufacture of the above items," a Finance Ministry
statement announcing the changes said.
Earlier in the day, the
Centre also approved a COVID-19n emergency package worth Rs 15,000 crore
for states. It has been named India COVID-19 Emergency Response and
Health System Preparedness Package.
In recent days as the number
of Covid-19 positive patients has gone up, so has the requirement in
Indian hospitals while the domestic production of some of these medical
equipment is now increasingly becoming insufficient to meet the growing
requirement. Due to shortage of the equipment, there has been a spike in
prices of key products that is being made domestically. Reduction is
duty is expected push down prices and improve availability of these
equipment.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
84.35
|
82.60 |
UK Pound
|
106.35
|
102.90 |
Euro
|
92.50
|
89.35 |
| Japanese
Yen |
55.05 |
53.40 |
| As on 12 Oct, 2024 |
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