Aerospace Diary

Neelam Mathews July 15, 2014 A statement released today might bring a ray of hope to a fledgling industry. However, the government really needs to get that policy official- there has to be an end to adhocism. Here goes- The Minister of State for Civil Aviation, G.M. Siddeswara informed the Rajya Sabha today that though the Government has not prepared any formal policy on aircraft Maintenance, Repair and Overhaul (MRO) facilities, necessary constraints have been identified in consultation with the stakeholders which affect the growth of MRO activities. In this regard, the Ministry of Finance has been requested to remove Service Tax on MRO work or provide a Service-tax holiday for ten years and Custom duty on import of consumables and tool-kits used by MROs as are applicable to airlines maintaining their own aircraft, along with providing faster custom clearance round-the-clock on all days. The Finance Ministry has also been requested to simplify the procedures of custom cl...

April 2, 2012 Neelam Mathews This emotional appeal went out to all Kingfisher staff for whom the fifth month without pay has started. Aerospace Diary recently learnt of a heart rendering story of a family suffering as a result of their only earning member with ailing Kingfisher who had to resort to getting financial help from a temple! There is a lot of scepticism amongst the employees- once bitten twice shy- whether they will actually get the promised amount. Even competitive carriers that were absorbing KFA staff with starting bonuses are putting a stop to it as they await the final bell to get employees at the lowest salaries possible.  Dear Colleague Further to my earlier mail and media statement, I am pleased to advise you that the formalities of un-freezing our bank accounts was completed yesterday following our payment of Rs 44 crores to the Income Tax and Rs 20 crores to the Service Tax authorities before March 31st. My only focus now is to start paying your s...

Neelam Mathews March 2, 2012 Even as one heard news that Kingfisher had presented its flight schedule to the government, bringing a ray of hope, Aerospace Diary learns seven more accounts have been frozen by the Directorate of Service T ax of Central Board of Excise and Customs. This now brings total accounts frozen to 44. One wonders how many more treasures lie locked. Whispers have started why TDS for two years has not been paid. Just for 2010-11, TDS of Rs 490 crores was collected but not paid entirely. “Tax authorities have got the power to seize the company and put its directors behind bars in such a case of default,” says a tax official to Aerospace Diary. “Instead, notices were served on employees who had paid their TDS which their company did not file! This is India!,” he adds.