GST relief for foreign shipping companies, airlines, and MNCs | Exclusive
Sources have revealed to CNBC-TV18 that foreign shipping companies, airlines, and multinational corporations (MNCs) are set to receive significant relief following a recent GST notification.
This development will render the Directorate General of GST Intelligence (DGGI) notices to these sectors null and void.
Foreign shipping lines were facing DGGI notices amounting to an astonishing Rs. 1 lakh crore.
Similarly, foreign airlines were dealing with notices totalling approximately Rs. 15,000 crore, while MNCs were confronting notices worth Rs. 4,000 crore.
All these cases will now be settled on an "as is where is" basis, providing much-needed relief to the affected sectors and simplifying their tax compliance, the sources said.
