ANNOUNCEMENT 31 May 2021

India has announced an import duty exemption on an antifungal medication.

NUMBER OF INTERVENTIONS

2

  • 0 harmful
  • 0 neutral
  • 2 liberalising
Inception date: 31 May 2021 | Removal date: 31 Aug 2021

Import tariff

On 31 May 2021, the Indian Ministry of Finance through Notification No. 31/2021-Customs temporarily eliminated the import tariff on the drug Amphotericin-B. Prior to this notification, the applicable import duty on these goods was 10%.

Amphotericin-B is an antifungal medication that has seen an increase in demand due to a rise in fungal infections in COVID-19 patients.

Notably, the exemption notified in this Notification was granted by adding the affected product to the list of goods temporarily exempted from the customs duty on imports as announced via Notification No. 28/2021-Customs on 24 April 2021. The import duty exemption under Notification No. 28 was announced until 31 July 2021 and with the current Notification (No. 31) the exemption for all goods, including Amphotericin-B, has been allowed until 31 August 2021 (please, see related state acts).

 

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
Inception date: 31 May 2021 | Removal date: 31 Aug 2021

Internal taxation of imports

On 31 May 2021, the Indian Ministry of Finance through Notification No. 31/2021-Customs added the drug Amphotericin-B to the list of goods exempted from a 5% Health cess applicable on imports.

Amphotericin-B is an antifungal medication that has seen an increase in demand due to a rise in fungal infections in COVID-19 patients.

Notably, the exemption notified in this Notification was granted by adding the affected product to the list of goods temporarily exempted from the customs duty on imports as announced via Notification No. 28/2021-Customs on 24 April 2021. The import duty exemption under Notification No. 28 was announced until 31 July 2021 and with the current Notification (No. 31) the exemption for all goods, including Amphotericin-B, has been allowed until 31 August 2021 (please, see related state acts).