IGST exemption on import of fuel, lubricating oil, aircraft equipment etc. as per Cus. Notfn 151 of 1994

Posted on 10 April 2023 Category : GST

IGST exemption extended as per Customs Notification No.151/94 dated 13.07.1994

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The GST council meet of June 3, 2017 extended notification 151/94-Customs, dated 13.07.1994 for exemption of IGST on import of goods specified in said notification. Notification number 151/94-Customs, dated 13.07.1994 extended on IGST exemption as per GST council meet on 3^rd June, 2017 and is valid when introduction of GST in India by July, 2017 for exemption of IGST on imports.

The details of customs Notification No.151/94 dated 13.07.1994 describes import duty exemption as follows: (The said exemption is applicable for IGST exemption also as per GST council meet on 3^rd June, 2017)

So, the import duty exemption to the following may also be read as IGST exemption on import of the following:

(a) Fuel in the tanks of the aircrafts of an Indian Airline or of the Indian Air Force subject to the condition, inter alia, that the quantity of the said fuel is equal to the quantity of the same type of fuel which was taken out of India in the tanks of the aircrafts of the same Indian Airline or of the Indian Air Force, and on which the duty of Customs, or Central Excise had been paid; and the rate of duty of customs (including the additional duty leviable under the said section 3) or the rate of duty of Central Excise, as the case may be, leviable on such fuel is the same at the time of the arrivals and departures of such aircrafts;

(b) Lubricating oil, imported in the engines of any aircraft registered in India or of any aircraft of the Indian Air Force;

(c) Specified goods imported by the United Arab Airlines which will be carried on individual aircraft for use in hangars and which are flown back on the same aircraft;

(d) Aircraft equipment, engines and spare parts imported by the Air India International or the Indian Airlines having been borrowed by the aforesaid airlines for fitment to their aircraft from foreign airlines outside India or from the foreign manufacturers of the prime equipment subject to the condition, that the said goods are being imported for fitment and re-export; and the said goods are re-exported within one month from the date of their importation into India.

The complete details of customs notification No.151/94 dated 13.07.1994 may be read hear. Click here to read the full extract of customs notification No.151/94 dated 13.07.1994. Customs Notification No.151/94 dated 13.07.1994

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