Excise On ATF: If you are also going to go abroad then this news will make you happy. The Finance Ministry said in a notification that basic excise duty will not be charged on ATF sold to domestic airlines for operating international flights.
Excise On ATF: There is good news for the travelers going abroad. Traveling by international flights will now become easier. In fact, the Ministry of Finance has given relief to domestic airlines operating international flights from 11 percent basic excise duty on the purchase of aircraft fuel ie ATF (Aviation Turbine Fuel) from oil marketing companies. That is, now excise duty will not be levied on ATF.
The government informed
The ministry has given this information. The ministry said in a notification that basic excise duty will not be charged on ATF sold to domestic airlines for operating international flights. This decision has come into effect from July 1, 2022.
Extra excise duty was imposed on ATF
Excise of 11% has to be paid from Dr.
However, oil marketing companies had opined that after levying excise duty on ATF exports, domestic airlines with international flights would have to pay basic excise duty at the rate of 11 per cent. But the Finance Ministry has made it clear that this excise duty will not be applicable on domestic airlines for international flights. Let us tell you that this arrangement will be in line with the exemption given to foreign airlines in excise duty.
A welcome move for the airline industry
There is happiness in the airline industry on this decision of the government. Abhishek Jain, Tax Partner, KPMG, said, “The government has given relief from the imposition of excise duty on the fuel of aircraft going abroad. This is a welcome step for the airline industry.