📢 𝗚𝗢𝗜: 𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝗲𝘀 𝗥𝗲𝗱𝘂𝗰𝗲𝗱 𝗧𝗮𝘅 𝗥𝗮𝘁𝗲 𝗳𝗼𝗿 𝗛𝗲𝗹𝗶𝗰𝗼𝗽𝘁𝗲𝗿 𝗣𝗮𝘀𝘀𝗲𝗻𝗴𝗲𝗿 𝗧𝗿𝗮𝗻𝘀𝗽𝗼𝗿𝘁 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗡𝗼. 𝟬𝟳/𝟮𝟬𝟮𝟰 - Central Tax (Rate) Transportation of passengers by air in helicopters on a seat-share basis will now attract a reduced tax rate of 2.5%, provided that input tax credit (ITC) on goods used for the service is not claimed.

🔍 𝗙𝗮𝗰𝘁𝘀: 𝗜𝘀𝘀𝘂𝗲𝗱 𝗕𝘆: Ministry of Finance, Government of India 𝗗𝗮𝘁𝗲: 8th October 2024 𝗞𝗲𝘆 𝗖𝗵𝗮𝗻𝗴𝗲: A new entry was added to the tax notification, introducing a 2.5% tax rate on helicopter passenger transport, with the condition that ITC on goods is not taken. 𝗦𝗰𝗼𝗽𝗲: This applies specifically to helicopter services operating on a seat-share basis.

⚖ 𝗝𝘂𝗱𝗴𝗺𝗲𝗻𝘁: The Government, through this notification, aims to reduce the tax burden on helicopter passenger transport services, promoting this mode of transport while restricting the benefit of input tax credit claims.

📜 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻: 𝗧𝗶𝘁𝗹𝗲: Notification No. 07/2024-Central Tax (Rate) 𝗢𝗿𝗱𝗲𝗿 𝗗𝗮𝘁𝗲: 8th October 2024 𝗘𝗳𝗳𝗲𝗰𝘁𝗶𝘃𝗲 𝗗𝗮𝘁𝗲: 10th October 2024 This change lowers the tax on helicopter services for operators who forego ITC, thereby incentivizing certain aviation business models while maintaining tax compliance.