GST rate on MRO services of aircraft reduced from 18% to 5%: Sitharaman

Union Minister of Finance Nirmala Sitharaman informed that GST rate on Maintenance, Repair and Overhaul (MRO) services in respect of aircraft from 18% to 5%. "It was decided to reduce the GST rate on Maintenance, Repair and Overhaul (MRO) services in respect of aircraft from 18% to 5% with full ITC and to change the place of supply for B2B MRO services to the location of the recipient," said FM.