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 VAT and GST in India :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: empanelment :: VAT RATES :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4%
 
 
Sales Tax »
 Income tax: How to calculate capital gains tax on sale of old jewellery
 Six arrested for posing as Sales Tax officers, extorting money
 Insurance Agency Mergers and Acquisitions in Q1 "Explode," OPTIS Partners' Report Reveals
 Sales tax sleuths raid spare parts shops in Meerut's infamous Sotiganj market
 Income Tax: How offshore income could be taxed twice
 India finalises bills to launch new sales tax in July
 NMC to implement new tax system from Apr 1a
 13 per cent sales tax boost post demonetisationa
 Arun Jaitley May Lower Corporate And Income Tax Rates But Hike The Service Tax Rate
 Tax on high seas sales becomes dispute area
  State extends GST enrolment deadline

UPDATE 1-Indian states to mull jet fuel tax cuts next week
June, 12th 2008

Finance ministers from India's states will on Monday consider cutting sales tax on jet fuel to 3 percent nationwide to help airlines facing large losses due to rising fuel costs, the civil aviation minister said.

Sales taxes are fixed by states without reference to the federal government, and aviation turbine fuel (ATF) is taxed by between 4-28 percent across the country.

Jet fuel makes up about 45 percent of an airline's operating costs, and the benchmark domestic price of ATF has risen nearly 46 percent since January to above 66,000 rupees ($1,540) a kilolitre as the cost of crude oil has surged to record highs above $130 a barrel.

"I have proposed a declared goods status (for jet fuel), with tax cut to 3 percent," Praful Patel, the minister, told a news conference on Wednesday, saying the measure would immediately reduce the sector's costs by 35 billion rupees.

The Indian airline industry is expected to lose 80 billion rupees in the year to March 2009, double that of a year ago, largely due to the surge in ATF prices.

"We have also asked the oil companies to consider a reduction in the base price of ATF," Patel said.

Patel, who was speaking after meeting the prime minister to discuss the sector, said he would meet the finance minister next week.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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