GST exemption on defence goods will boost preparedness: Defence Secretary

The exemption on GST on imported defence items will be extended up to only 2024, the Finance Minister announced yesterday

ANI General News

1 min read Last Updated : Sep 21 2019 | 1:52 PM IST

Defence Secretary Ajay Kumar on Saturday said the decision to exempt GST on imported defence items up to 2024 will greatly benefit defence preparedness in the country.

On Friday, Finance Minister Nirmala Sitharaman had announced that GST and I-GST will be exempted for imports of specified defence goods not being manufactured indigenously.

“Exemption of Goods and Services Tax on specified defence goods not manufactured in India will greatly benefit defence preparedness,” the Defence Secretary tweeted.

The exemption on GST on imported defence items will be extended up to only 2024, the Finance Minister announced yesterday.

She had stated this while addressing a press conference in Panaji, Goa after the 37th GST Council meeting.

The exemption of GST will help the defence forces to save funds due to the facility and they can utilise the money for other acquisition projects.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Already subscribed? Log in

Subscribe to read the full story →

^*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%

*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

In-depth market analysis & insights with access to The Smart Investor

Ad-free Reading

Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

Access Business Standard across devices — mobile, tablet, or PC, via web or app

SAVE 25%

Subscribe for ₹2,700 / 1 Year

Connect with us on WhatsApp

GST exemption on defence goods will boost preparedness: Defence Secretary

The exemption on GST on imported defence items will be extended up to only 2024, the Finance Minister announced yesterday