The Central Government, with an aim to ensure oxygen availability in the country during the COVID-19 pandemic, has slashed the rate of Integrated Goods and Services Tax (IGST) on the import of oxygen concentrators for personal use.
While country is facing difficult time due to surge in COVID-19 cases, the most pressing issue is oxygen, with shortages being documented in many Indian cities.
The Central Board of Indirect Taxes and Customs (CBIC) today notified the reduction in the rate of IGST on Import of Oxygen Concentrators for personal use has been reduced from 28% to 12% to bring IGST rate on such personal imports at par with commercial imports of the same.
As per the notification issued by the Board today, the exemption is valid till end of June this year.
“This reduced IGST rate for imports of concentrator for personal use shall be applicable upto the 30/6/21,” the CBIC tweeted today.
The government, a meeting chaired by Prime Minister Narendra Modi to review the stepson last week,had decided to waive off basic customs duty and health cess on import of oxygen and oxygen related equipment for three months.
It was also decided to exempt basic customs duty on import of Covid vaccines with immediate effect for three months.
Subscribe Taxscan Premium to view the JudgmentSupport our journalism by subscribing to Taxscan AdFree. We welcome your comments at info@taxscan.in
