The India’s aviation industry suffered a loss of over INR 240bn in the last two financial years during 2020-22, according to the Ministry of Civil Aviation data (MoCA). The ministry has also taken various initiatives to support the aviation industry. Due to the efforts of the MoCA, the Value Added Tax (VAT) on Aviation Turbine Fuel (ATF) has been reduced by 17 states in India. Also, the Goods and Services Tax (GST) on rate has been reduced from 18% to 5% for domestic Maintenance, Repair and Overhaul (MRO) services. To boost the country’s infrastructure, the Airports Authority of India (AAI)
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