From Our Web Desk: Eastern Chronicle 24×7, The 22nd December, 2024.
Indian Government Tax Panel has rejected Airline Industry Proposals for aviation fuel, to be bought under the Unified Goods and Services Tax (GST), finance minister Sitaraman said after a meeting of the Panel on Saturday.
Till time, or Currently States Government chooses how to tax the aviation turbine fuel (ATF). Airlines are lobbying to including it into GST Regime, so that levy is the same Nationwide. But States Authorities have opposed that. They are fearing about they(states) could lose Revenues.
” States do not want ATF to be bought under GST, just like petrol and diesel ” finance minister Nirmala Sitharaman said on Saturday’s meeting of the Goods and Services Tax Council ( GST). The council chaired by finance minister. And the meeting was included FM and all other States representatives.
Tax Panel also decided to impose 18%GST on all used or old cars & vehicles, including all electric vehicles, which sold by registered sellers. Such vehicles, sold directly in between two individuals, will also attract certain tax.
GST council deffered plans to slash taxes on Life and Health Insurance Premiums, that have some moves to getting more Indian to sign up for coverage under both Life and Health insurance policy, but both the proposals require more discussions.
But aviation turbine fuel ATF, which is the key issue, to include with GST. If States failure, with the issue, also States owned revenues should be slashed, and pricing of air tickets will rise sky-high.
