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    • Fall in customs duty...

    Fall in customs duty likely on certain medical devices

    Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 2019-01-22T14:04:33+05:30  |  Updated On 16 Aug 2021 1:26 PM IST

    Industry chamber CII in its has pre-budget memorandum has asked the government to reduce customs duty from 10 per cent to 2.5 per cent on PDS Plates used for nasal reconstructive surgery.


    New Delhi: The government may consider reducing customs duty on certain medical devices in the forthcoming budget with an aim to boosting domestic manufacturing of such goods, sources said.


    The move would also help promote the government's ambitious Make in India initiative, said the source.


    Read Also: National Medical Devices Promotion Council to boost the medical device industry


    Industry chamber CII in its has pre-budget memorandum has asked the government to reduce customs duty from 10 per cent to 2.5 per cent on PDS Plates used for nasal reconstructive surgery.






    It has also asked to exempt the duty on instruments for joint replacement and spinal equipment.




    "Reduction of basic customs duty on PDS Plates to 2.5 per cent would reduce the cost and benefit the patients," CII has said.


    Read Also: Under Tax Scrutiny: Can GST be levied on Implants and Medical Devices


    The government has recently set up the National Medical Devices Promotion Council (NMDPC) to boost manufacturing, attract investments and promote exports of the fast-growing sector.


    Medical devices include any instrument, apparatus, appliance, implant, material or another article, whether used alone or in combination, including the software intended by its manufacturer to be used especially for human beings or animals for one or more of the specific purposes.


    India has achieved a major global position in the pharmaceutical sector. However, the same has not been replicated in the medical devices industry.


    Currently, 100 per cent FDI is allowed under the automatic route in the medical devices sector to encourage manufacturing of equipment.


    The government would present the Budget on February 1.

    apparatusapplianceBoostBudget 2019CIIcustom dutycustoms duty on medical devicesexemptFDIimplantIndiainterim budgetjoint replacementMake in Indiamedical appliancesMedical Devicesnasal reconstructive surgeryNational Medical Devices Promotion CouncilNew DelhiNMDPCPDSPDS Platespharmaceuticalreplicatedspinal equipment
    Source : PTI

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    Medical Dialogues Bureau
    Medical Dialogues Bureau

      Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

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