The Indian government has announced the implementation of a uniform integrated goods and services tax (IGST) rate of 5% on all aircraft and aircraft engine parts with effect from 15 July 2024. According to India's Civil Aviation Minister, the uniform rate has been implemented to resolve challenges associated with applying the previous varying rates of 5%, 12%, 18%, and 28% on aircraft components. Further, the uniform rate of 5% aims to reduce operational costs, resolve tax credit issues, and…