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The Finance Ministry has slashed Integrated Goods and Services Tax (IGST) on Oxygen concentrators imported for personal use to 12 per cent from 28 per cent earlier.
This reduced IGST rate will remain in force upto June 30, the revenue department said in a notification issued on Saturday.
This is a timely move by the government as India is faced with severe shortage of medical oxygen amid sharp rise in daily Covid-19 cases, which touched the 4 lakh mark in 24 hours upto Saturday.
With the latest revenue department move, oxygen concentrators imported into India will attract 12 per cent IGST for both commercial use and personal use. Already, the Government had exempted oxygen concentrators imports from basic customs duty.
The Commerce Ministry has also now opened the “gift” route for tax free imports of oxygen concentrators through posts, courier and international e-commerce websites.
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