Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: TDS :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT Audit :: Central Excise rule to resale the machines to a new company :: cpt :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: empanelment
 
 
« Sales Tax »
 Sales tax staff protest against goods service tax council
 Income tax survey on city jeweller
 Service tax levy to weigh on upstream companies’ earnings
 5 pc tax on online sales awaits Cabinet approval
 Amendment to Additional Sales Tax Act unconstitutional: High Court
 Maharashtra will soon achieve Rs one lakh cr sales tax : CM Devendra Fadnavis
 CBEC chief bats for minimal exemptions for India Inc under GST
 Issuance of Free Sale & Commerce Certificate to Merchant Exporters
 Why model GST law does not give confidence to exporting community
 State governments tighten their grip on sales tax holidays
 Income tax dept charts plan to broaden national taxpayer base

Lowering of sales tax on jet fuel required: Assocham
December, 30th 2011

Lowering of sales tax on jet fuel, upgradation of airport infrastructure and allowing foreign capital by international airlines in domestic carriers are required for the civil aviation industry in India, said a major industry lobby Thursday.

"The right vision, road map, policies and a relentless focus on quality and cost would set (India) to claim its rightful place in global civil aviation industry," Associated Chambers of Commerce and Industry of India (Assocham) secretary general D.S. Rawat said in the lobby's proposals for the ailing sector.

The industry lobby has proposed a eight-point strategy for the financially-strapped sector which is suffering a debt burden of around Rs.1 lakh crore, accumulated during 2000-2010, and losses of Rs.20,000 crore in the past three years.

The industry, which recorded a 17 percent growth in passenger traffic by catering to 55 million domestic passengers between January and November against 46.8 million in the like period of last year, is struggling due to rising tax on jet fuel and interest costs which are eating into the margins of carriers.

Sales taxes on jet fuel imposed by the state governments range from 3 to 35 percent which makes it 50 percent higher than anywhere else in the world.

These factors were cited by airlines such as Kingfisher, Jet and Spicejet for being in the red.

The eight-point strategy calls for opening foreign direct investment (FDI) by international airlines to bring in capital and technological expertise and allowing easier access to global routes by Indian carriers for increasing their yields

"Allowing FDI by foreign airlines and allowing more Indian carriers to fly overseas by utilising full quota of bilateral agreements could be key enabler to fuel further growth."

"At the same time, the government must rationalise ATF (aviation turbine fuel) prices in tune with international benchmarks through policy changes."

The proposals also includes creating an infrastructure development fund to build airports in tier II and III cities.

Assocham also called for introducing fiscal incentives and innovative funding solutions to overcome constraints which are being faced by airport operators.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions