Notification No. 02/2020
Date: March 26, 2020
Subject: Reduction of IGST rate on maintenance, repair and overhaul (MRO) services for aircrafts.
Description:
This notification amends Notification No. 8/2017–Integrated Tax (Rate) by inserting a new entry prescribing a concessional IGST rate of 5% on maintenance, repair or overhaul services in respect of aircrafts, aircraft engines and other aircraft components or parts. The amendment aims to promote the domestic aviation MRO sector and reduce operational costs for airlines.
Issued for earlier notification?
Yes — it amends Notification No. 8/2017–Integrated Tax (Rate).