The Government has reversed a contentious policy of tax-free imports of missile parts, says a report by Reuters. The policy lies at the centre of an investigation against the Adani Defence, which is under scanner for an alleged Rs 77 crore import tax evasion
Earlier in September, the government announced that it would exempt all such parts, whether for long- or short-range missiles, from import taxes.
The Reuters report pointed out that the latest October 9 “corrigendum”, or correction notification, dropped the word “missiles” from its previous policy without providing any reason, thereby reinstating older rules that exempt only certain parts used in long-range missiles.
The September notification was the first time the government had put a blanket exemption on all such missile par