The exemption from import duty will help in keeping the cost of foreign vaccines down.
The government has waived customs duty on COVID-19 vaccines for three months till December 31, which will boost domestic availability and make them cheaper.
In a notification dated September 29, the Central Board of Indirect Taxes and Customs (CBIC) said that the exemption will be applicable from October 1, 2021 and will remain in force till December 31, 2021.
Earlier in April, the government had waived basic customs duty on import of COVID vaccines for three months. After the expiry of the three-month period, there was a 10% duty on the import of COVID-19 vaccines.
The exemption from import duty will help keep the cost of foreign vaccines down, which are being seen as a complement to the domestically made shots of Covishield and Covaxin.
At present, India imports the Russian-made Sputnik V vaccine.
India has approved emergency use for five vaccines – Serum Institute’s Covishield, Bharat Biotech’s Covaxin, Russia’s Sputnik V, Moderna and Johnson & Johnson.
.