sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Service Tax »
 12 ways to avoid paying more for bank services
 I-T return filing: Income Tax offices, Ayakar Seva Kendras to remain open from March 29-31
 Top 5 money matters you must settle before March 31 From income tax returns to LTCG,
 Steep fines for missing March 31 income tax deadline
 CBEC clears some air on refunds under GST, central excise, service tax laws
 3 key tax changes for senior citizens which will come into effect from April 1, 2018
 Income tax returns (ITR) filing: Not filed returns for 2 years? Beware! Deadline nearing
 All you want to know about HRA: When you can claim and how it is calculated?
 Income Tax Saving: 6 ways to save tax without investing before March 31 tax deadline
 Unnable to file your tax return? Take help of these portals
 Do you know which 80C instruments can help you save tax and carry no future tax liability?

Service tax removal on MRO activity sought
July, 16th 2014

The ministry of civil aviation has requested the ministry of finance to remove service tax on aircraft MRO (maintenance, repair and overhaul) activities in an effort to facilitate the growth of the industry.

Replying to a question in the Rajya Sabha on Tuesday, minister of state for civil aviation, G M Siddeswara said the government has not prepared any formally policy on aircraft MRO facilities, but it has identified necessary constraints in consultation with the stakeholders, which affect the growth of the industry.

"We have requested the Ministry of Finance to remove Service Tax on MRO work or provide a Service-tax holiday for ten years and Custom duty on import of consumables and tool-kits used by MROs as applicable to airlines maintaining their own aircraft, along with providing faster custom clearance round-the-clock on all days," he said.

Siddeswara said they have also requested the Finance Ministry to simplify the procedures of custom clearance and procedures specifying time limits to consume spare parts. State Governments on the other hand, have been requested to remove VAT on spare parts sold by MROs.

The Airports Authority of India has been asked to relax the stringent requirement of Royalty charged on MRO revenues and identify areas at airports where MRO activities can be started, he added.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions