: Govt exempts IGST on import of COVID19 relief material amid crisis #FinanceIndia #StockMarketNEWS Govt exempts IGST on import of COVID-19 relief material amid crisis New Delhi, May 4 (KNN) The
@stockMarketNEWS Thu 06 May, 2021
Govt exempts IGST on import of COVID19 relief material amid crisis #FinanceIndia #StockMarketNEWS
Govt exempts IGST on import of COVID-19 relief material amid crisis New Delhi, May 4 (KNN) The government has exempted Integrated Goods and Service Tax (IGST) on the import of goods received free of cost for distribution for COVID-19 relief.
According to an official statement from the Ministry, on Monday, this exemption shall apply till June 30, 2021. It would also cover goods already imported but lying uncleared on the date of its issuance of the exemption.
Taking to micro-blogging site twitter, the Finance Minister said, "Quick follow-up action in briefing Chief Secretaries of states on today`s order of IGST exemption on specified #COVID19 relief materials (Customs duty waiver given earlier). Will speed up clearance for charitable organisations and others."
After the circular on exemption from IGST, the ministry has also issued the list of items that fall under COVID-19 relief material. These items were already given exemption from customs duty/health cess.
Remdesivir Active Pharmaceutical Ingredients; Beta Cyclodextrin (SBEBCD) used in manufacture of Remdesivir; Injection Remdesivir; Oxygen concentrator including flow meter, regulator, connectors and tubings; Medical Oxygen; Vacuum Pressure Swing Absorption (VPSA) and Pressure Swing Absorption (PSA) oxygen plants; Cryogenic oxygen Air Separation Units (ASUs) producing liquid/gaseous oxygen; Oxygen canister; Oxygen filling systems; Oxygen storage tanks; Oxygen generator; ISO containers for Shipping Oxygen; Cryogenic road transport tanks for Oxygen and Oxygen cylinders including cryogenic cylinders and tanks.
Apart from these, any Chapter Parts of goods at S.No.1 and 3 to 10 above, used in the manufacture of equipment related to the production, transportation, distribution or storage of Oxygen, subject to the condition that the importer follows the procedure set out in the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 16; Any other device from which oxygen can be generated; Ventilators, including ventilators with compressors; all accessories and tubings; humidifiers; viral filters (should be able to function as high flow device and come with nasal canula); High flow nasal canula device with all attachments; nasal canula for use with the device; Helmets for use with non-invasive ventilation; Non-invasive ventilation oronasal masks for ICU ventilators; Non-invasive ventilation nasal masks for ICU ventilators; COVID-19 vaccines; Inflammatory Diagnostic (marker) kits, namely- IL6, D-Dimer, CRP(C-Reactive Protein), LDH (Lactate De-Hydrogenase), Ferritin, Pro Calcitonin (PCT) and blood gas reagents were the other items on which IGST have exempted.