TaxTMI 
TaxTMI 
No GST on import of aircraft, its parts on lease
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....o GST on import of aircraft, its parts on lease <br>GST<br>Dated:- 10-7-2017<br><BR>New Delhi, Jul 9 (PTI) The government has exempted the import of aircraft, aircraft engines and its parts procured o....
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....n 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 import and another 5 per cent ....
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....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 ministry in a notification yesterday sai....
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....d 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 several other areas of concerns such as i....
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....nput tax credit not being available for economy class tickets and the movement of spares from one part of the country to another.<BR> News - Press release - PIB....