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: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: TDS :: list of goods taxed at 4% :: cpt :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: empanelment
 
 
« VAT (Value Added Tax) »
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading
 Delhi budget unlikely to have any new tax proposals this year
 Date for filing quarterly VAT returns extended
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi

Classify jet fuel as declared goods: Assocham
January, 10th 2012

Industry body Assocham on Monday asked the Government to lend a helping hand to troubled airlines by treating jet fuel as declared goods', which will lower local taxes on the fuel.

If a commodity is given declared-goods status, it will enjoy a significant reduction in value-added tax (VAT).

The chamber said the Indian aviation industry is adversely affected by taxation on aviation turbine fuel (ATF) as the rate varies substantially from state to state.

ATF comprises nearly one-third of an airline's operating cost, Assocham said.

The fuel should also be brought under the proposed goods and services tax, it said. Once implemented, this tax would subsume Central and State taxes like excise, customs, service tax, sales tax and VAT.

Most of the Indian airlines have accumulated huge debt on account of high operating costs. The chamber has also asked the Government to grant infrastructure status to airports.

Emergence of low-cost carriers has led to a boom in air travel and the number of passengers at Indian airports is expected to grow to 450 million by 2020, it said.

Thus, huge investments are required to develop, modernise and expand airport infrastructure. Tax holidays for initial years, concessional tariff for certain services like electricity use and moderate rates of Customs Duty, Excise Duty and sales tax will attract investments, Assocham said.

It has also asked for exemption of customs duty on imports of security systems like X-ray baggage inspection systems, explosives detectors and bomb-scanning robots.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

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