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

Govt prepares plan to tame jet fuel price rise
June, 12th 2008

The government is looking at setting up an inter-ministerial group headed by Cabinet Secretary KM Chandrashekhar to address the issue of rising prices of jet fuel, which currently forms 50 per cent of an airline's total costs.

A senior civil aviation ministry official said this was one of the key issues discussed during Civil Aviation Minister Praful Patel's meeting with Prime Minister Manmohan Singh today to ask for a relief on ATF. Top airline executives like Jet Airways Chairman Naresh Goyal and Kingfisher Airlines Chairman Vijay Mallya also met the PM to highlight the issue.

The ministry is going to make a presentation on ATF to the empowered group of state finance ministers, which meets on June 16. Patel said assigning "declared goods" status to ATF would figure among other key points in the meeting.

"The Centre has its own considerations. The states have to be consulted keeping in mind the federal structure of the government. Fortunately, this matter (declared goods status) has been taken up by the state empowered committee," he said.

Once given the declared goods status, a central sales tax of 3 per cent will be levied on ATF instead of the sales tax currently levied by states. This could be as high as 30 per cent.

Patel will meet Finance Minister P Chidambaram on the ATF issue after the June 16 meeting.

In today's meeting with the PM, Patel also raised the issue of Customs and excise duties currently levied on ATF. According to the ministry's estimates, a relief from all the levies would mean savings of Rs 5,000 crore for the aviation industry, while the declared goods status will attract a relief of Rs 3,500 crore. The industry is estimated to incur a loss of Rs 8,000 crore for 2008-09 owing to high ATF prices.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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