Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: empanelment :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: TDS :: cpt :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment
 
 
Service Tax »
 IT infrastructure firm of GST under scrutiny for tax evasion
 GST council OKs draft law on relief to states
 GST Network gets notice for avoiding service tax
 GSTN contract may attract tax
 GST Council may discuss tax rate on gold at Udaipur meet
 Govt may rework indirect tax estimates mid-way after GST
 GST Council meeting: States allowed to tweak taxpayer division after consulting Centre
 Government may rework indirect tax maths mid-way after GST entry
 Govt may rework indirect tax mid-way after GST entry
 GST rollout will reduce disparity among states
 GST: E-tailers oppose tax laws

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 2017 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