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Reduced the rate of GST on MRO services in respect of ships/vessels to 5% from 18%

The Ministry of Finance issued Press Release dated May 28, 2021 pertaining to decisions taken in 43rd GST Council meeting wherein following recommendations were made to extend the same dispensation as provided to Maintenance, Repair and Overhaul (“MRO”) units of aviation sector to MRO units of ships/vessels so as to provide level playing field to domestic shipping MROs vis a vis foreign MROs and accordingly, – ..

Source: a2ztaxcorp.com

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