Economy

CBIC relaxes norms for import-export of Covid-19 vaccines

Our Bureau New Delhi | Updated on December 31, 2020 Published on December 31, 2020

Importers have been advised to indicate unique identifier of the containers and accessories

The Central Board of Indirect Taxes & Customs (CBIC) has relaxed the norms for import and export of Covid-19 vaccines through courier.

CBIC operates under the Finance Ministry and is responsible for formulation and implementation of policies related to Central Goods & Service Taxes (CGST), Central Excise Duty and Custom/Import Duty.

The board has amended the Courier Imports and Exports (Electronic Declaration and (Processing) Amendment Regulations. Accordingly, import and export of Covid-19 vaccines have been allowed without any value addition. Since the vaccines will be imported in durable containers equipped with the requisite temperature and monitoring and tracking devices, provision has been made to facilitate temporary importation and re-exportation of durable containers.

“Care should be taken to ensure compliance with the procedure, including execution of continuity bond, declaration of the durable containers and accessories as a separate item in the Customs declarations during import and re-export,” the circular said. Further, importers have been advised to indicate unique identifier of the containers and accessories.

It has also been decided to form a Task Force for efficient clearances of vaccines. “Since multiple stakeholders will be involved in the process of clearance of the vaccines, effective co-ordination among the stakeholders would be necessary. Commissioners in charge of the International Courier Terminals, where ECCS (Express Cargo Clearance System) is in operation, are therefore requested to immediately form a Task Force, headed by an officer of the rank of Joint/Additional Commissioner and comprising officials from various stakeholders,” the circular said.

India is getting ready for vaccination. Though most of the supply is expected to arise from domestic manufacturers, imports will also play a key role in this process. Major international airports have already put a system in place for storage and transportation of the vaccines.

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Published on December 31, 2020
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