Military hardware set to be cheaper as 18% IGST scrapped

IGST cut from 18% to Nil

- HT Correspondent

From unmanned systems to ejection seats for fighter jets and transport aircraft to rockets, a wide variety of military hardware is set to get cheaper as a result of the next-generation goods and services tax reforms being implemented by the Narendra Modi government.

The integrated goods and services tax (IGST) on military hardware has been cut from 18% to nil in the case of military equipment, including ship-launched missiles, deep submergence rescue vessels, flight motion simulators, integrated air defence weapon system, unmanned underwater vessels, and communication devices, said a finance ministry statement on the recommendations of the 56th meeting of the GST Council held on Wednesday.