Finance Ministry to exempt relief goods for Kerala from customs duty/IGST

By: | Published: August 20, 2018 10:40 PM

The central government is exempting basic customs duty and Integrated Goods and Services Tax (IGST) for the goods imported or supplied for flood relief operations in Kerala, Finance Minister Piyush Goyal said today.

Finance Ministry, customs duty, Piyush Goyal, GST Council, Pinarayi Vijayan, IGSTThe notification will be later placed in the next meeting of the GST Council, sources said.

The central government is exempting basic customs duty and Integrated Goods and Services Tax (IGST) for the goods imported or supplied for flood relief operations in Kerala, Finance Minister Piyush Goyal said today. A notification to this effect is likely to be issued tomorrow, according to sources. “India stands with Kerala in this hour of need. Central Government is exempting basic customs duty and IGST for the consignments of aid and relief materials being despatched or imported from abroad for the affected people,” Goyal said in a tweet.

The notification will be later placed in the next meeting of the GST Council, sources said. The tax exemptions will be valid till December 31, 2018. Kerala has been hit hard by devastating rains and floods leading to loss of lives and damage to property. Earlier, Kerala Chief Minister Pinarayi Vijayan had written to the Union Finance Minister requesting for a general exemption of Customs duty and IGST for consignments being despatched or imported from abroad for relief works in the state.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition