Amidst the surge in coronavirus cases, the Finance Ministry on Saturday cut the Integrated Goods and Services Tax (IGST) on import of oxygen concentrators for personal use to 12 per cent from 28 per cent earlier.
The Central Board of Indirect Taxes & Customs (CBIC) announced the decision to cut IGST on Twitter.
“IGST on Import of Oxygen Concentrators for personal use has been reduced from 28% to 12% to bring IGST rate on such personal imports at par with commercial imports of the same. This reduced IGST rate for imports of concentrator for personal use shall be applicable upto the 30/6/21,” the CBIC said in a tweet.
As India battles the second wave of coronavirus pandemic, scarcity of medical oxygen has been reported from many parts of the country. Earlier today, the government allowed imports of oxygen concentrators for personal use through post, courier or e-commerce portals under the gift category.
Last week, the government fully exempted oxygen and oxygen related equipment from basic customs duty and health cess for a period of three months.
Source: Business Today
