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 withhold cut on ATF duties once again
June, 26th 2008

The empowered committee of State finance ministers has decided to withhold any cut in sales tax on aviation turbine fuel (ATF) till the central government lowers excise and Customs duties on the fuel. The committee has also decided to take up the matter afresh at its next meeting.

"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," a government source said.

The committee, which met in Srinagar yesterday, was provided a briefing by Arun Mishra, joint secretary in the ministry of civil aviation, highlighting the tough times faced by airlines in India due to surging oil prices.

The committee, however, sought additional information like the formula used to fix the ATF price and decided to review the matter in its next meeting. According to government sources, the States decided not to change the sales tax rate on ATF, which varies from 4 per cent to 30 per cent in most states, unless the Centre too changed its tax policy. Currently, the Centre levies excise and Customs duties on ATF at the rate of 8 per cent and 5 per cent, respectively.

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