The Union civil aviation ministry has proposed the lowering of customs duty for aircraft imported by leasing companies set up in India.
The ministry has asked the finance ministry to consider reducing customs duty for lessors from 21 per cent to the prevalent rates of zero per cent for scheduled and two per cent for non-scheduled operations.
Aircraft imported by non-scheduled operators, such as Alchemist Airways and Air Odisha, face a 2.5 per cent import duty whereas planes imported by scheduled operators, such as IndiGo and SpiceJet, are exempt from tax at present. Aircraft imported for any other purposes, including private use, attract 21 per cent customs duty.
04/01/17 Somesh Jha/The Hindu
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The ministry has asked the finance ministry to consider reducing customs duty for lessors from 21 per cent to the prevalent rates of zero per cent for scheduled and two per cent for non-scheduled operations.
Aircraft imported by non-scheduled operators, such as Alchemist Airways and Air Odisha, face a 2.5 per cent import duty whereas planes imported by scheduled operators, such as IndiGo and SpiceJet, are exempt from tax at present. Aircraft imported for any other purposes, including private use, attract 21 per cent customs duty.
04/01/17 Somesh Jha/The Hindu
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