Page 51 - ELT_3rd_1st May 2020_Vol 372_Part

2020 ] TIT-BITS A109

billion in March 2019 to $ 5.4 billion. But gems and jewellery, petroleum products
and textiles were not far behind, reporting a decline of 30-40% each.
For the full fiscal year, exports were estimated to have declined 4.8% to
$ 314 billion, while imports fell over 9% to $ 467.2 billion, resulting in narrowing
of trade deficit from $ 184 billion in 2018-19 to $ 153 billion during the last finan-
cial year.
Going forward, WTO has already warned of an adverse fallout of
Covid-19 on global trade. Exporters, who had queued up seeking succour, were
more vocal in demanding a package to keep them afloat.
[Source : The Times of India, New Delhi, dated 16-4-2020]
Customs duty waiver for ventilators, PPE

The Government on 9-4-2020 announced Customs duty exemption on a
host of imported equipment — from ventilators and testing kits to face and sur-
gical masks to personal protection equipment — needed to tackle COVID-19. The
exemption, which is available till September 30, has been extended to inputs
used to manufacture the items, the Finance Ministry said in a late evening state-
ment.
On March 31, TOI was the first to report about the proposal moved by
the Commerce Department, in consultation with the Health Ministry and the
Pharma Department.
The Ministries had also proposed to do away with integrated GST,
which is levied on imported goods, but that plan will need to be ratified by the
GST Council.
[Source : The Times of India, New Delhi, dated 10-4-2020]
Import of COVID-19 preventive products to get duty
exemption
Exemption on Basic Customs Duty to be available upto September, 30 : Finance
Ministry
The Government has exempted import of ventilators, face masks, surgi-
cal masks, PPE. COVID-19 test kits and inputs for manufacturing these items
from levy of basic Customs duty and health cess. The exemption from import
duty would be applicable till September 30, the Finance Ministry said in a state-
ment.
“In the context of COV1D-19 situation, considering the immediate re-
quirement of ventilators and other items, the Central Government has granted
exemption from Basic Customs Duty and Health Cess, on the import of the fol-
lowing goods, with immediate effect : ventilators, face masks, surgical masks,
Personal Protection Equipment (PPE), COVID-19 test kits, inputs for manufac-
ture of the above items. This basic Customs duty exemption shall be available
up to 30th September, 2020,” the statement said.
However, certain sections of the country’s medical devices industry feel
the move may not be as beneficial as the Government hopes it to be. “If the com-
panies intending to import products like ventilators are headquartered in a coun-
try which needs these products more because they have a higher number of seri-
ous cases and deaths, how much India will be able to import will remain a ques-
tion mark,” said an Industry Executive, requesting anonymity.

EXCISE LAW TIMES  1st May 2020  51