Postpone GST Rollout Aviation Ministry Says, As July Deadline Nears
New Delhi: The civil aviation ministry has sought postponement of the GST implementation by two months on the ground that airlines need more time to revamp their systems to comply with the new tax regime. The goods and services tax (GST) is scheduled to be rolled out from July 1 and preparations are at an advanced stage.
Against this backdrop, the ministry has written to the finance ministry seeking deferral of the GST implementation by two months.
According to a senior ministry official, the deferment has been sought as airlines are not yet ready with their systems to be in compliance with GST. Carriers, including Air India, have expressed concern over certain aspects of GST.
Airline officials said making changes in the global ticket distribution system to ensure compliance with GST would take time. Lack of clarity on certain areas pertaining to airlines business has also given rise to concerns of higher operational cost.
Among others, airlines are in a fix over the possibility of movement of "stocks (equipment or aircraft parts)" being taxed under GST.
On Wednesday, Minister of State for Civil Aviation Jayant Sinha chaired a meeting on GST preparedness with various aviation industry stakeholders, including airlines, airports and cargo.
Earlier this week, the finance ministry said GST is on track for scheduled implementation from July 1 and pushed back against rumours of a delay. "The rumours about GST implementation being delayed are false. Please do not be misled by it," Revenue Secretary Hasmukh Adhia had said.
Â
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
