
During the webinar on “Oilfield Equipment Leasing - A Permissible Activity in GIFT City”, eminent speakers Ms. Neetu Vinayek, Partner, @EY_India and Mr. Hiten Sutar, Partner, Direct Tax, EY India delivered an insightful and comprehensive presentation. They highlighted the nuances of the recently issued notification recognizing operating leases, including hybrid models combining operating and financial leases, with a special focus on oilfield equipment leasing and the associated tax incentives available in GIFT City.
Ms. Neetu Vinayek set the context by outlining key business highlights of GIFT IFSC, detailing permissible activities within the IFSC framework and providing an overview of existing leasing products. Building on this Mr. Hiten Sutar elaborated on the critical aspects of oilfield equipment leasing from IFSC, including the notified list of goods under GST and key considerations under the current leasing framework.
He further provided detailed insights into the direct tax benefits and incentives available in IFSC, explaining various structuring options such as outright purchase and lease-in lease-out models.
The session concluded with an engaging interactive Q&A, where the speakers addressed pertinent queries related to oilfield equipment leasing, tax implications and operational procedures in GIFT City, offering valuable clarity to participants.
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