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Chapter, Section or Heading: Heading 9973 (Leasing or rental services, with or without operator)
GST Tax Rate: 5%
Description:
(v) Leasing of aircrafts by an operator for operating scheduled air transport service or scheduled air cargo service by way of transaction covered by clause (f) paragraph 5 of Schedule II of the Central Goods and Services Act, 2017.
Explanation.-
(a) “operator” means a person, organisation or enterprise engaged in or offering to engage in aircraft operations;
(b) “scheduled air transport service” means an air transport service undertaken between the same two or more places operated according to a published time table or with flights so regular or frequent that they constitute a recognisable systematic series, each flight being open to use by members of the public;
(c) “scheduled air cargo service” means air transportation of cargo or mail on a scheduled basis according to a published time table or with flights so regular or frequent that they constitute a recognisably systematic series, not open to use by passengers.
Condition:
Provided that credit of input tax charged on goods used in supplying the service has not been taken
Explanation: This condition will not apply where the supplier of the leasing service is located in non-taxable territory.
[Please refer to Explanation no. (iv)]
Services Accounting Code (SAC) is designed by the Central Board of Excise and Customs (CBEC) to identity each of the services. It assigns a eight digit code for each of the services classified. As of now, there are more than 120 services classified.
SAC code are extended under GST regime so that services can be classified as per this coding mechanism. Hence, SAC is still important even from GST point of view.
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