GST: Aviation Industry Gets Relief From Dual Tax On Import Of Aircraft, Spares

The government has exempted the import of aircraft, aircraft engines and its parts procured on lease from the purview of the Goods and Services Tax (GST).

The Finance Ministry in a notification said that airlines would not have to pay GST on the import of aircraft and its parts if GST was paid on their lease.

The aviation industry had been seeking relief as it was facing a dual levy of 5% at the time of import and another 5% at the time of payment of lease rent.

The Aviation Ministry had raised the issue before the Revenue Department on several occasions.

Airlines are awaiting a formal clarification on several other areas of concerns such as input tax credit not being available for economy class tickets and the movement of spares from one part of the country to another.

You may also read!

India aims to export Sukhoi upgrade

India, which is looking to upgrade its mainstay Su-30MKI fighter fleet to modern standards, hopes to get a toehold


G7 Summit main highlight during PM Narendra Modi’s visit to France

Prime Minister Narendra Modi will be visiting France later this week for a state visit and to participate in


Alliance Air flight makes emergency landing in Delhi

A Jaipur-bound Alliance Air flight made an emergency landing at Delhi's IGI Airport after it took off from the


Leave a reply:

Mobile Sliding Menu