Budget 2020-21: Govt ends duty on coronavirus, cancer detection kits
ISLAMABAD: The federal government has ended duties on imports of coronavirus and cancer detection kits besides ending Custom duty on 61 items related to COVID-19, ARY News reported on Friday.
The federal government has provided relief to the nationals in the Budget 2020-21 by announcing end on duties and taxes on coronavirus, cancer detections kits, as well as on a life-saving drug and ready-to-use supplementary foods.
In the new budget, two per cent federal excise tax (FED) on edible oil and oilseed ended.
The government approved exemption on customs duty for the exports of new industries in Federal Administered Tribal Areas (FATA) till 2023 besides reducing duties on 40 items of raw materials used in different industries. The duty on cement was also decreased to Rs1.75 from Rs2 per kilogram.
The duties on 90 tariff lines were shrunk to three per cent to zero from 11 per cent. It is suggested to set purchase limit up to Rs100,000 on single computerised national identity card (CNIC) for retailers.
An extension of three months was approved for the exemption of sales tax on healthcare products related to coronavirus.
The federal excise duty on cigarette and cigar increased up to 100 per cent from 65 per cent, whereas, FED of Rs10 per millilitre imposed on e-cigarette’s liquified. 25 per cent FED imposed on caffeinated energy drink, 7.5 per cent on locally-manufactured double-cabin vehicle and 25 per cent on imported double-cabin vehicle.