No GST on import of aircraft, its parts on lease

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..... No GST on import of aircraft, its parts on lease - Goods and Services Tax - GST Dated:- 10-7-2017 - News - New Delhi, Jul 9 (PTI) The government has exempted the import of aircraft, aircraft engin .....

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..... es and its parts procured on lease from the purview of the Goods and Services Tax (GST). The aviation industry had been asking for relief as it was facing a dual levy of 5 per cent at the time of i .....

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..... mport and another 5 per cent at the time of payment of lease rent. Its concerns were raised by the civil aviation ministry before the revenue department on several occasions. The finance ministr .....

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..... y in a notification yesterday said that airlines would not have to pay GST on import of aircraft and its parts if GST was paid on their lease. Airlines are awaiting a formal clarification on severa .....

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..... l 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. - News - Press release - PIB Tax .....

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..... Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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