Basic duty exemption on import of raw materials for COVID test kits

The authorities has granted primary customs duty exemption on import of raw materials for manufacturing COVID-19 test kits until September 30, and on import of sure energetic pharmaceutical components (APIs) used to fabricate Amphotericin-B, used within the remedy of Mucormycosis, until August 31.

Imports of excessive purity Cholesterol and Egg Lecithin, essential components used within the pharmaceutical sector, have additionally been exempted from primary customs duty until August 31, as per a notification issued by the Customs Department on Monday.

“This relief for specified APIs and excipients for Amphotericin-B and test kit materials is a well-considered exemption being granted by the Indian government to fight the COVID-19 crisis and is a step to make the domestic industry self-reliant in fighting the pandemic,” stated Abhishek Jain, tax companion at EY India.