GST slashed to 5% on domestic MRO services for aviation sector

The Goods and Services Tax (GST) has been slashed from 18 percent to five percent on domestic maintenance, repair and overhaul (MRO) services for the aviation sector, the government announced on March 14. The industry players had long been demanding the government to reduce the GST rate on aircraft MRO services. The reduction in taxation rate is expected to accelerate the pace of se…