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 :: VAT RATES :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: TDS :: empanelment :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment
 
 
« Sales Tax »
 India Fails to Break Deadlock on New 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

Airlines for uniform tax on jet fuel
June, 12th 2008

Civil Aviation Minister Praful Patel said on Wednesday his ministry has sought declared good status for aviation turbine fuel (ATF) to prop up the crippled finances of domestic airlines.

Patel led a delegation of CEOs of different airlines, state-run and private, and sought Prime Minister Manmohan Singh's intervention to help bail out an industry in the red due to the unprecedented rise in jet fuel prices.

Several airlines have been forced to cut down the number of flights, and some are even finding it difficult to pay their employees.

The declared good status would lead to a uniform tax of three per cent on ATF. Currently, states levy varying sales tax on the commodity. While Maharashtra, Gujarat and Madhya Pradesh levy sales tax of 30 per cent and more, other states levy lower taxes.

The Centre has its own compulsion, and in a federal structure we cannot unilaterally decide to grant declared good status to ATF. The states opinions have to be sought before we take a decision, Patel told reporters after an hour-long meeting with Singh.

Patel said the issue of high sales tax on ATF would be taken up in the meeting of the Empowered Group of State Finance Ministers slated for next Monday.

Jet fuel prices have gone up by 50 per cent since January. In Delhi, ATF prices went up from Rs 45,495.82 per kilolitre in January to Rs 66,227.08 per kilolitre in June. Patel said the airlines industry would incur a loss of nearly Rs 8,000 crore in the current financial year on account of high ATF prices.

Patel asked airlines to rationalise fares and discipline themselves if they wanted to continue in the business.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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