GST on imported oxygen concentrators slashed

Oxygen concentrators acquired as items or ordered on-line from abroad would appeal to Goods and Services Tax (GST), however the GST fee payable was lowered from 28% to 12% by the Finance Ministry late Saturday night time.

On Friday, the federal government had notified adjustments to the overseas commerce coverage to permit the import of oxygen concentrators for private use by means of e-commerce portals, publish or courier until July 31, 2021.

Customs clearance might be granted for such imports by treating them on par with “gifts”, the federal government had stated. So far, such an exemption was solely allowed for all times saving medicine and rakhis.

In response to queries on such imports for private use in addition to donations to healthcare amenities, the Delhi Customs Department had stated that although Customs Duty is exempt on such imports, built-in GST on oxygen concentrator is payable. The IGST fee for industrial imports of oxygen concentrators is 12%, however 28% if imported for private use, the generic fee on items imported for private use, besides medicine and medicines.

However, late Saturday, the Finance Ministry stated the IGST fee might be lowered to 12% for oxygen concentrators imported for private use until the top of June this yr.

“This would provide much-needed relief against the COVID fight,” EY India tax accomplice Abhishek Jain informed The Puucho.