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of <h1>Customs Act Amendment: Biotech & Pharma Units with Rs. 20 Cr Export Can Import Duty-Free for R&D</h1> The Central Government, under the Customs Act, 1962, has amended the customs notification to allow biotechnology and pharmaceutical units with an export turnover of Rs. 20 crores or more to import specified goods duty-free for research and development purposes. These units must have a registered R&D wing with the Department of Scientific and Industrial Research. Conditions include a cap on import value, certification from the Joint Director General of Foreign Trade, installation within six months, and a seven-year non-transfer period. The list of eligible equipment includes various advanced scientific instruments and laboratory apparatus.
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