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Customs duty relief for Covid tangled in red tape - The Hindu BusinessLine

Customs duty relief for Covid tangled in red tape
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The on-going second wave of Covid-19 has taken many by surprise including the Central Board of Indirect Taxes and Customs (CBIC). The second wave has hit India so hard that beds in hospitals are hard to get, beds with oxygen are next to impossible and there is a huge shortage of vaccines. Importing these things seems to be the only option.
But, CBIC would levy both Customs Duty and Integrated Goods and Service Tax (IGST) on such imports thereby making the landed cost higher. After a bit of back and forth, CBIC responded. On April 20 and 24, it issued notifications exempting Customs Duty on import of Remdesivir, Beta Cyclodextrin, oxygen and vaccines. However, the threat of these imports attracting IGST remained. ....

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Construction sector reports Jamaican cement shortage

Members of the construction industry in Jamaica are reporting a cement supply shortage, as the country reaches its peak demand season. According to t. ....

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Government must monitor pulses import, mandate registration of all contracts

Government must monitor pulses import, mandate registration of all contracts
May 17, 2021
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Border control agencies need to ensure that substandard material does not enter the food supply chain
In a welcome move, the government has liberalised import of certain pulses to counter rising prices amid tightening availability and threat of food inflation. The three pulse varieties tur/arhar (pigeon pea), urad (black matpe) and moong (green gram) under quantitative restriction since August 2017 are now under ‘Free’ import category until October 31 this year.
Importantly, these are the three major pulse crops cultivated in the Kharif season, planting for which will start in June. While the liberal import policy will have a salutary effect on open market prices, there are also some associated risks that the policymakers must consider and address. ....

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Cement imports to the Philippines are increasing by 6-7% YoY

CEMAP data showed imports were growing by an average of 6-7 per cent annually. In 2020 approximately 500t of cement arrived from Vietnam, which emerged. ....

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India's oxygen concentrator black market preys on Covid patients — Quartz India

With barely any domestic production capacity, India is largely reliant on China-made concentrators. While there is a rush to import, the costs are high and hurdles include hazy regulations. ....

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