Amid concerns over new variants of Covid-19, the government has announced an exemption from customs duty to Covid-19 vaccines, which will be available till March 31, 2023.
In a notification, the Central Board of Indirect Taxes and Customs said the exemption would come into force from Saturday (January 14) and will remain up to and inclusive of March 31, 2023, adding that the Central government is satisfied “it is necessary in the public interest so to do”.
The import of vaccines would otherwise attract basic customs duty of 10%. The exemption to Covid-19 vaccines was earlier until June 2022.
The move is expected to also lower the costs of imported vaccines and could also help Serum Institute of India, which manufactures Covishield and has a plant in a special economic zone.
In all, 12 vaccines are approved for use in India including Covishield and Covaxin as well as others, including Russia’s Sputnik.
With a rise of Covid-19 cases in parts of the world, the government has also been urging people to get their booster doses. At present, over 2.2 billion vaccinations have been completed in India, according to the Cowin website.