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 :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: form 3cd :: cpt :: TDS :: articles on VAT and GST in India :: empanelment :: ACCOUNTING STANDARDS :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: VAT RATES :: VAT Audit
 
 
VAT (Value Added Tax) »
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading
 Delhi budget unlikely to have any new tax proposals this year
 Date for filing quarterly VAT returns extended
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi
 CENVAT Credit (Amendment) Rules, 2017
 VAT to Give Way to Consumption Tax
 Import stage VAT under new VAT law

Slash VAT on jet fuel: Centre to states
September, 11th 2013

The Centre on Tuesday asked state governments to slash value added tax (VAT) on jet fuel to four per cent to provide succour to cash-strapped airline industry, which posted a combined loss of over Rs 9,700 crore and had a total debt burden of Rs 87,779 crore in 2012-13.


It also wanted the states to take steps like reducing property tax on airports, provision of security, power and water supply and road connectivity, to encourage development of air traffic in Tier-II and III cities and far-flung areas.

At a day-long conference of State Civil Aviation Ministers here, representatives of state governments wanted the Centre to share the cost of developing airports in Tier-II and III cities and ensure a minimum number of flights to non- metro and remote destinations, among other things.

Observing that the prime reason for airline losses was high fuel cost which constituted almost 40-50 per cent of an airline's total costs, Civil Aviation Minister Ajit Singh said the aviation turbine fuel (ATF) prices were high due to rising base price and "very high VAT imposed by state governments", which currently ranged from 4 to 30 per cent.

In 2012-13, the airlines posted a combined loss of Rs 9,779 crore and had a total debt of Rs 87,779 crore, official figures showed.

Addressing the conference, he said states like Madhya Pradesh, Chhattisgarh, Jharkhand West Bengal have recently reduced VAT, "I thank them and hope others would also oblige".

Lowering of VAT on ATF by Chhattisgarh has led to "a six -fold increase in ATF uplift" and brought in more flights to Raipur. "So my request to you all will be that you should take up with your government to reduce VAT on ATF to four per cent" which would also lead more people to take to air travel and provide considerable spinoffs to the economy, Singh said.

A "flawed perception" that aviation belonged to the elite only, has resulted in the sector "bearing the cross of high tax regimes and eliciting less sympathy from policy makers," he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

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