Government exempts GST on import of aircraft, its parts on lease
Government has exempted Goods and Services Tax (GST) on import of aircraft and its parts procured on lease if GST is already paid on lease rent. This will resolve the issue of dual levy on aviation industry which is about 5% at the time of import and another 5% at the time of payment of lease rent. Taking aircrafts on lease is a common practice in the airline business in India as it helps in increasing fleet size quickly and reduces the cost of airline operations.
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