The Central Board of Indirect Taxes and Customs (CBIC) announced that chemical packages of 500 grams or 500 millilitres will be classified as laboratory chemicals and will incur a ten percent import duty.
Larger quantity packages, however, will face a different, often higher, duty rate. A CBIC circular clarified that laboratory chemicals refer to both organic and inorganic chemicals, whether chemically defined or not, that are imported exclusively for personal use – excluding trading or further sale.
These chemicals must be in packages of no more than 500 grams or 500 millilitres and must be identifiable based on their purity, markings, or other relevant features.
In an earlier relief effort effective from August 1, the finance ministry had introduced a separate category for lab chemicals used in research and development (R&D). A notification issued on July 31 stated that such chemicals would only be subject to a ten percent customs duty, provided they are intended for lab or R&D use.
Importers must submit an undertaking confirming that these chemicals will not be sold or traded after import.
As reported by thehindubusinessline.com, the policy adjustment is seen as a boon for researchers and academicians, ensuring they can access essential chemicals at a reduced duty rate for their scientific work.
