Amid concerns about new Covid-19 variants, the government has announced that Covid-19 vaccines will be exempt from customs duty until 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 reduce the cost of imported vaccines and may benefit Serum Institute of India, which manufactures Covishield and has a facility 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 Covid-19 cases on the rise in some parts of the world, the government has also urged people to get their booster doses. According to the Cowin website, over 2.2 billion vaccinations have been completed in India as of now.