The state government reduced the VAT on aviation turbine fuel (ATF) from 25 pc to 18 pc in the annual budget. The move has been welcomed by aviation experts. They hoped that it will not only help airlines to mitigate their losses during the pandemic but a further reduction should lead to a decrease in airfares.
The reduction in VAT is a result of the demand made by Union minister of state for aviation Jyotiraditya Scindia during an event in the city. The move is expected to benefit airports in Maharashtra, particularly in Pune, which has seen an increase in passenger traffic and revenue
Source: punemirror.com
Latest Posts in "India"
- Meghalaya Extends VAT Exemption on Fruit Wine to 10 Years, Boosting Local Wine Industry
- Allahabad HC: Arbitrary GST Registration Cancellations Without Reasons Amount to ‘Economic Death’ for Businesses
- Chennai Fake GST Invoice Racket Busted; ₹350 Crore Evasion Suspected, Prime Accused Arrested
- Overpaid GST: Rectification or Refund? Understanding When to Adjust and When to Claim Refund
- Insurance Brokers Push for Zero-Rated GST to Restore Input Tax Credit and Prevent Premium Hikes
