The customs department has given time till September 30 for the re-export high-quality containers which have been imported for efficient transportation of liquid medical oxygen during the second wave of COVID-19 pandemic.
In a circular to field formations, the Central Board of Indirect Taxes and Customs (CBIC) said it has received representations through the Department for Promotion of Industry and Internal Trade (DPIIT) for providing relaxations in the re-export of ISO containers imported temporarily for combating the COVID-19 pandemic.
Such containers have been used for efficient transportation of liquid medical oxygen due to the inherent advantage related to multi-modal transportation (by road/rail/waterways/airways).
"Board hereby guides all the field formations to allow extension of time period for re-exports of ISO containers meant for transportation of Liquid Medical Oxygen grade, . till September 30, 2022, upon receipt of requests from the importers," the CBIC circular said.
Currently, containers are allowed to be imported duty-free with the condition of re-export in the next six months.
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
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Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.
If they are not re-exported within six months or the time limit as given by the CBIC, import duty is levied on such containers.When the deadly second COVID-19 wave hit India in April-May last year, there was a massive surge in oxygen demand and the government had taken a host of steps to increase domestic availability of medical oxygen.