
Earlier this month, in a bid to encourage start-ups making satellites to use ISRO's domestic launching services, GST Council has decided to exempt 18% GST levied on satellite launch services offered by the space agency ISRO and its commercial arm Antrix Corporation Ltd as well as New Space India Limited (NSIL).
In a 42nd meeting held on 5th of this month, GST Council recommended that 18% GST will be completely scrapped, said a notification announcement on Friday.
In a notification dated 16 October, that seeks to amend Notification No. 12/2017- Central Tax (Rate) the 28th June, 2017 which pertains to Exemptions on supply of services under CGST Act, serial number 19C is added in order to exempt Satellite launch services supplied by Indian Space Research Organization, Antrix Corporation Limited or New Space India Limited.