Government implements uniform GST of 5% on all aircraft, aircraft engine parts in boost to MRO industry

Union Civil Aviation Minister Kinjrapu Rammohan Naidu announced the implementation of a uniform IGST rate of 5 percent on all aircraft and aircraft engine parts, effective from July 15.  The decision marks a significant milestone for making India’s Maintenance, Repair and Overhaul (MRO) industry a global aviation hub as it will lead to a reduction in operational costs, resolve tax credi…