The import obligation waiver will come into impact from April 1. (File)
New Delhi:
The federal government has exempted fundamental customs obligation on all medication and meals for particular medical functions imported for private use for therapy of uncommon illnesses.
The import obligation waiver will come into impact from April 1.
Additionally, the federal government has exempted Pembrolizumab (Keytruda), utilized in therapy of varied cancers, from fundamental customs obligation.
Medication/Medicines typically appeal to fundamental customs obligation of 10 per cent, whereas some classes of life saving medication/vaccines appeal to a concessional price of 5 per cent or Nil.
“The Central Authorities has given full exemption from fundamental customs obligation on all medication and Meals for Particular Medical Functions imported for private use for therapy of all Uncommon Ailments listed beneath the Nationwide Coverage for Uncommon Ailments 2021,” a finance ministry assertion stated.
Meals for Particular Medical Functions is a meals formulation supposed to supply dietary help to individuals that suffer from a selected illness, dysfunction or a medical situation, as part of their dietary administration.
Central Authorities has given full exemption from fundamental customs obligation on all medication and Meals for Particular Medical Functions imported for private use for therapy of all Uncommon Ailments listed beneath the Nationwide Coverage for Uncommon Ailments 2021.
Press Launch 👉 https://t.co/2aufdrhj3Ipic.twitter.com/J0k0Nkipr9
— CBIC (@cbic_india) March 30, 2023
With a purpose to avail this exemption, the person importer has to supply a certificates from Central or State Director Well being Providers or District Medical Officer/Civil Surgeon of the district.
Whereas exemptions have already been supplied to specified medication for therapy of Spinal Muscular Atrophy or Duchenne Muscular Dystrophy, the federal government has been receiving many representations looking for customs obligation reduction for medication and medicines utilized in therapy of different uncommon illnesses.
Medication or Particular Meals required for the therapy of those illnesses are costly and should be imported.
The ministry stated it’s estimated that for a kid weighing 10 kg, the annual value of therapy for some uncommon illnesses, could differ from Rs 10 lakh to greater than Rs 1 crore per yr with therapy being lifelong and drug dose and value, growing with age and weight.
“This exemption will lead to substantial value financial savings and supply a lot wanted reduction to the sufferers,” the ministry stated
(Apart from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)