New Delhi: The Modi government at the Centre is likely to waive off 10 percent customs duty on imported vaccines to keep the price of corona vaccine coming from abroad low. Sources have informed the same. The decision can be taken before the corona vaccination is opened to people above the age of 18.

Russia's Sputnik V vaccine is scheduled to arrive in India by this month or next month, while manufacturers like Modrna and Johnson & Johnson have applied for emergency use clearance in India. The government currently imposes 10 percent customs duty or import duty and 16.5 percent I-GST and social welfare surcharge on vaccines coming from abroad. These taxes will make imported VaccineSerum Institute of India (SII) and India costlier than biotech. A source with knowledge of the entire matter said that the waiver of customs duty is being considered.

Another source said a decision in this regard is likely to be taken very soon. The government had earlier this month allowed emergency use of imported vaccines to prevent the scourge of coronavirus infection. Sources said the discussion on duty exemption on vaccines began in December last year when foreign manufacturers like Pfizer applied for supply of their vaccines to India. He said that the Finance Ministry and its Indirect Tax Collection Branch had made some preliminary calculations on the impact of duty waiver, but no decision in this regard was deferred unless the Government approved the use of imported vaccines.

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