GST on imported oxygen concentrators slashed

Oxygen concentrators acquired as presents or ordered on-line from abroad would entice Items and Providers Tax (GST), however the GST charge payable was decreased from 28% to 12% by the Finance Ministry late Saturday night time.On Friday, the federal government had notified adjustments to the overseas commerce coverage to permit the import of oxygen concentrators for private use by e-commerce portals, put up or courier until July 31, 2021.Customs clearance can be granted for such imports by treating them on par with “presents”, the federal government had stated. Thus far, such an exemption was solely allowed for all times saving medicine and rakhis.In response to queries on such imports for private use in addition to donations to healthcare services, the Delhi Customs Division had stated that although Customs Obligation is exempt on such imports, built-in GST on oxygen concentrator is payable. The IGST charge for business imports of oxygen concentrators is 12%, however 28% if imported for private use, the generic charge on items imported for private use, besides medicine and medicines.Nevertheless, late Saturday, the Finance Ministry stated the IGST charge can be lowered to 12% for oxygen concentrators imported for private use until the top of June this yr.“This would supply much-needed reduction in opposition to the COVID battle,” EY India tax accomplice Abhishek Jain informed The Hindu.

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