Govt waives import duty on Remdesivir

at 11:25 pm

New Delhi (NVI): In order to ensure affordable medical care for COVID-19 patients, the government today waived off the customs duty on imported Remdesivir injections and the drug’s active pharmaceutical ingredients (API) till October 31.

According to the finance ministry, the central government has also exempted customs duty on the import of “Beta Cyclodextrin (SBEBCD)”, used in the manufacture of Remdesivir, subject to the condition that the importer follows the procedure set out in the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017.

“This should increase supply and reduce cost thus providing relief to patients,”
commerce and industry minister Piyush Goyal tweeted.

Earlier, the duty was 10% but total import levies would go up to 16.5% after IGST a 1% social welfare surcharge.

Remdesivir, API and formulation were placed under export ban on April 11 to increase the supply of the injection in the domestic market.