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Why India has removed IGST on military gear
India just dropped the 18% IGST on military gear, aiming to make defense equipment like drones and missiles more affordable.
Announced at the 56th GST Council meeting held in early September 2024, this move is set to help modernize the country's armed forces by cutting costs for critical tech.
Boost for local manufacturers
This tax cut is expected to give a real boost to local defense manufacturers and support innovation in areas like unmanned aerial vehicles (UAVs).
Ankit Mehta from ideaForge highlighted how this step will strengthen both defense and commercial drone capabilities.
This aligns with India's broader push for self-reliance in defense manufacturing.