NEW DELHI: Cash-strapped Indian carriers have been spared the additional excise burden imposed recently imposed on aviation turbine fuel (ATF) being tanked up for international flights. The Union finance ministry had on June 30, 2022, issued a notification that, among other things, levied an additional excise of Rs 6 per litre on ATF exports (refuelling for international flights) and upended the exemption from 11% basic excise duty (BED). These two additional burdens have now been withdrawn for airlines.
\nAbhishek Jain, KPMG partner (indirect tax) said: \u201cThe potential levy of excise duty on ATF supplies to a foreign going aircraft has proactively been exempted by the government, with no excise duty (basic or special) being applicable on such supplies. This alignment to the taxabilty as existent pre-imposition of excise duty on exports is a much welcome move for the airline industry, specifically in the backdrop of increasing ATF costs.\u201d
\nThe finmin corrigendum issued on Thursday (July 7) reads: \u201cIn the notification of the government of India, ministry of finance (department of revenue) No. 08\/2022-Central Excise, dated the June 30, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 496(E), dated the 30th June, 2022, for \u201cwhen such goods are cleared for exports\u201d read \u201cwhen such goods are cleared for exports or supplied as fuel to foreign going aircraft\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Cash-strapped Indian carriers have been spared the additional excise burden imposed recently imposed on aviation turbine fuel (ATF) being tanked up for international flights. The Union finance ministry had on June 30, 2022, issued a notification that, among other things, levied an additional excise of Rs 6 per litre on ATF exports (refuelling for international flights) and upended the exemption from 11% basic excise duty (BED). These two additional burdens have now been withdrawn for airlines. Abhishek Jain, KPMG partner (indirect tax) said: \u201cThe potential levy of excise duty on ATF supplies to a foreign going aircraft has […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-504556","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/504556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=504556"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/504556\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=504556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=504556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=504556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}