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: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT RATES :: form 3cd :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: cpt :: list of goods taxed at 4% :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD
 
 
Customs and Excise »
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Seeks to amend Notification No. 27/2014-Central Excise
 Government doubles limit of excise duty evasion for arrest and prosecution
 Excise duty evasion limit to warrant arrest revised to Rs 2 crore
 Guidelines for launching of prosecution in relation to offences punishable under the Customs Act, 1962
 GST notification triggers uncertainty over excise duty
 Preparing for GST: govt looking at restructuring excise/customs cadre
 Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available.
 CBEC directs customs officials for random search of vessels
 Rate of exchange of conversion of the foreign currency with effect from 7th July, 2016

Air fares set to go up by 8-10%
June, 03rd 2008

Air fares are set to go up again, with the government announcing an over 18 per cent average increase in the prices of aviation turbine fuel, effective Saturday midnight.

Airlines are preparing to increase the fuel surcharge, which is expected to push up fares by 8 to 10 per cent. "We should be able to come out with the exact details of the hike in fares by Monday. It has become absolutely necessary to consider a fare hike," said Hitesh Patel, executive vice-president, Kingfisher Airlines. According to sources within the airline, Kingfisher will jack up the fuel surcharge to Rs 750, split in two parts.

Mumbai-based low-cost carrier GoAir said it is looking at differential pricing. The airline is looking at introducing a separate haul category - a medium haul (600-1,000 km) - where it can adjust the fare increase. The aim is to spare the short-haul fliers.

"It is not an issue of a simple price hike for us. We will announce the increase in fares later this week," said G P Gupta, chief financial officer, GoAir.

The largest private carrier, Jet Airways [Get Quote], could not be contacted and its CEO Wolfgang Prock-Schauer neither took calls nor replied to text messages. Airlines had announced an additional levy of Rs 350 as fuel surcharge last month.

"We will have to pass on the additional costs incurred to the passengers, there is no way we can absorb these costs," said G R Gopinath, executive director, Simplify Deccan.

Emphasising the criticality of the situation, Gopinath said the government must now ensure that the air traffic control does better, as at least 10 per cent of the operational costs of the airlines are due to inefficient airport infrastructure and delays. "Aviation now will be all about efficiency and the low-cost model becomes all the more relevant, " he said.

Air India said it will increase the fuel surcharge for  flights up to 750 km by Rs 300 and for flights beyond that by Rs 550, effective June 3.

Airlines had been hoping that there would be some result in negotiating lower excise and customs duties for ATF or a concession from the state governments to bring down the sales tax to 12 per cent as against 25-30 per cent. But none of this has gone in their favour.

"The situation is explosive. It is for the government to decide whether they want airlines to fly in this country or not. We are in a critical state right now," said Gupta.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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