Imports of high purity Cholesterol and Egg Lecithin have also been exempted from basic customs duty till August 31.
The government has granted a basic customs duty exemption on the import of raw materials for manufacturing COVID-19 test kits till September 30, and the import of certain active pharmaceutical ingredients (APIs) used to manufacture Amphotericin-B, used in the treatment of Mucormycosis, till August 31.
Imports of high purity Cholesterol and Egg Lecithin, critical ingredients used in the pharmaceutical sector, have also been exempted from basic customs duty till August 31, as per a notification issued by the Customs Department on Monday.
“This relief for specified APIs and excipients for Amphotericin-B and test kit materials, is a well-considered exemption being granted by the Indian government to fight the COVID-19 crisis and is a step to make the domestic industry self-reliant in fighting the pandemic,” said Abhishek Jain, tax partner at EY India.
Source: Read Full Article