Duty hike on imported medical devices to boost manufacturing
The Dollar Business Bureau To encourage domestic manufacturing, the government has increased the rate of basic customs duty levied on the import of certain medical equipment from 5% to 7.5% and imposed special additional customs duty (SAD) of 4% on such items. The duty has been revised on the basis of recommendations of a task force which was constituted to examine various issues concerned with the domestic medical devices sector. “Taking into consideration the recommendations of the task force, the government has increased the rate of basic customs duty on certain specified medical device from 5% to 7.5%. Simultaneously, the exemption from additional customs duty (SAD) on these medical devices has also been withdrawn, and they will now attract 4% ...
