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The import of aircraft, aircraft engines and its parts procured on lease has been exempted by the government from the purview of the Goods and Service Tax (GST).
The aviation industry had asked for relief as it was facing a dual levy of 5 percent at the time import and another 5 percent at the time of payment of lease rent.
In a notification, the finance ministry said that airlines would not have to pay GST on import of aircraft and its parts if GST was paid on their lease.
