The change in the tax structure for services relating to the maintenance of aircraft and engines was announced earlier this year. This was reiterated in the Finance Ministers economic package announced to help revive the economy. These services referred to as Aircraft Maintenance Repair and Overhaul (MRO) services are critical in the aviation value chain. And with this tax policy change, the government is hoping to finally address the disadvantages due to which this sector never prospered in India. Indeed, majority of the MRO work even today is done outside the country leading to a huge loss of capital and employment. Yet the tax reform is just the first step towards revitalizing the sector.
Some key items remain. See them >>
To Read the News in full at Source, Click the Headline
Some key items remain. See them >>
0 comments:
Post a Comment