CBIC withdraws the customs duty on imports of COVID-19 Drug

The Central Board of Indirect Taxes & Customs (CBIC) has waived off the custom duty on imports of Remdesivir and active pharmaceutical ingredients used in the manufacturing of COVID-19 drug until October 31, 2021 [vide Notification No. 27/2021 – Customs dated April 20, 2021].
 
Further, a conditional exemption has been granted to Beta Cyclodextrin (SBEBCD) from the levy of Customs Duty used in the manufacture of Remdesivir till October 31, 2021.

MAG Comments -

With the prevailing situation of the COVID-19 pandemic and the inadequacy of vaccines, it was of utmost concern to provide such waiver of import of vaccine ingredients. This would help boost the production of the anti-COVID-19 drugs and medicines, especially given the sudden surge in demand in the last few days.
The move would help increase the domestic availability and reduce the cost of the injection.