GST imposed rate on leasing services of aircrafts business
How much GST tax payable on Leasing services of aircrafts? Present Indian GST charges on leasing services of aircrafts? Goods and Service Tax rate for leasing services of aircrafts?
The below information details about GST payable rate on Leasing services of aircrafts
The GST Council has broadly approved the GST rates for goods at nil rate, 5%, 12%, 18% and 28% to be levied on certain goods. Commonly used Goods and Services at 5%, Standard Goods and Services fall under 1st slab at 12%, Standard Goods and Services fall under 2nd Slab at 18% and Special category of Goods and Services including luxury - 28%. The most essential goods and services attract nil rate of GST under Exempted Categories. Luxury goods and services and certain specific goods and services attract additional cess than 28% GST.
The rate of GST on Leasing of aircrafts under Schedule II [5 (f)] by a scheduled airline for scheduled Operations fixed by GST council at the introduction of GST in July, 2017 is 5% with ITC of input services
This detail about GST rate tariff on leasing services of aircrafts is only for information.
The validity of above information and amendments about GST rate on leasing services of aircrafts may be verified before any business dealing.
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