India Implements Uniform 5% Tax For All Aircraft, Aircraft Engine Parts

NEW DELHI: India has implemented a uniform 5% tax rate for all imports of aircraft components and aircraft engine parts. This decision was recommended by India’s Goods and Services Tax (GST) Council in June and came into effect on Monday, July 15, 2024. The previous tax rates for these imports varied between 5% and 28%.The implementation of this uniform tax rate is expected to have several
NEW DELHI: India has implemented a uniform 5% tax rate for all imports of aircraft components and aircraft engine parts. This decision was recommended by India’s Goods and Services Tax (GST) Council in June and came into effect on Monday, July 15, 2024. The previous tax rates for these imports varied between 5% and 28%.The implementation of this uniform tax rate is expected to have several
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