Chennai, July 19 (IANS) The Tamil Nadu government led by Tamilaga Vettri Kazhagam (TVK) chief C. Joseph Vijay is preparing to reduce the State-level Value Added Tax (VAT) on Aviation Turbine Fuel (ATF), a move aimed at lowering airline operating costs and making the State’s aviation sector more competitive. The proposal is expected to be announced in the forthcoming State Budget as part of a broader effort to align Tamil Nadu’s tax structure with those of neighbouring States.Officials famili…
Latest aviation fuel News & Updates
New Delhi, June 4 (IANS) The government has fixed the basic price of aviation turbine fuel (ATF) for domestic airlines at Rs 86.32 per litre for up to three years under the new price stabilisation scheme aimed at keeping airlines financially viable and passenger tickets affordable amid the surge in international prices due to the Middle East crisis. Under the voluntary scheme, airlines participating in the scheme will pay the fixed free-on-board (FOB) benchmark price as well as airport charges, …
New Delhi, May 15 (IANS) The Maharashtra Government on Friday reduced value-added tax (VAT) on aviation turbine fuel (ATF) to 7 per cent from 18 per cent, offering relief to airlines grappling with rising operational costs amid global uncertainties and higher fuel prices.According to a notification issued by the state finance department, the revised VAT rate came into effect from May 15 and will remain applicable until November 14, 2026.The move marks an 11-percentage-point reduction in VAT on j…
New Delhi, April 16 (IANS) International Energy Agency chief Fatih Birol on Thursday warned that air travel in Europe would be hit due to a shortage of jet fuel if the Strait of Hormuz remains closed, as stocks were already running low. Europe may have “only maybe 6 weeks or so of jet fuel left”, and there could soon be flight cancellations if supplies remained blocked, Birol told the Associated Press.Stocks would reach a tipping point in June if Europe was unable to replace at least half of its…