Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Sales Tax »
Open DEMAT Account in 24 hrs
 Form 16 delayed, Income tax filing due date extended and more New ITR filing deadlines
 Selling inherited gold? Income tax rules you should know
 How do you decide capital gains tax on property sale?
 How is long-term capital gains tax on sale of property calculated
 GST dept probe on Mismatch in Sales Tax Return and E-Way Bill
 Clarification on Cash sale of agricultural produce by Cultivators/Agriculturists
 Short-term capital gains are taxable at income tax slab rates in the year of sale
 India imposes regressive nationwide sales tax
 Modification of Circular No.1 of 2014 in view of substitution of Service Tax by Goods and Services Tax (GST).
 Assam government to dismantle all sales tax check-gates post Goods and Services Tax
 Income tax: How to calculate capital gains tax on sale of old jewellery

States decide to hold on to jet fuel tax rate
June, 25th 2008

The Empowered Committee of State Finance Ministers has decided not to cut sales tax on aviation turbine fuel (ATF) until the central government lowers excise and Customs duties on the fuel.

"The empowered committee has decided that there will be no change in the sales tax rate on ATF for the time being. The matter will be reviewed after additional information is received from the central government," said a source.

The committee met in Srinagar yesterday. Arun Mishra, joint secretary in the Ministry of Civil Aviation, gave statistical details about the aviation industry and highlighted the tough times airlines in India are facing due to high oil prices.

The committee, however, sought additional information like the formula used to fix the ATF price. The matter will be reviewed by the committee in its next meeting. Sources said states decided not to change the ATF sales tax rate, which varies from 20 per cent to 30 per cent in most states, unless the Centre changes its tax policy. The Centre levies excise and Customs duties at the rate of 8 per cent and 5 per cent, respectively, on ATF.

The committee also decided to wait and see the impact of the recent increase in air fares by around 15 per cent. Domestic air travel growth rate has already slowed down to single digits in 2008-09 as compared with around 30 per cent last year.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting