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    <description>Targeted service tax exemptions and retrospective adjustments announced in the Union Budget 2018 convert certain import integrated tax liabilities to integrated tax payments for cross border leased aircraft and exempt specified government linked services (naval group life insurance to Coast Guard personnel, GSTN services to governments, and the Government&#039;s share of profit petroleum as consideration for petroleum exploration/lease services) for defined pre transition periods; these measures take effect on enactment of the Finance Bill, 2018.</description>
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