- CBIC grants GST exemption to foreign airlines on imported services
- Exemption follows recommendation by GST Council
- Concerns about applicability of exemption to past transactions
- Foreign airlines in India face tax liabilities of Rs 40,000 crore
- Exemption conditional on certification from Ministry of Civil Aviation
- CBIC allows rectification of past orders related to wrongful input tax credit under GST
- Taxpayers have six-month window to correct past compliance errors
- Electronic applications must be submitted via GST portal for rectification.
Source: menafn.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
