The Finance Minister was reacting to the views of SpiceJet founder Ajay Singh, in which Singh sought the Union FinU natural gas, petrol, diesel and ATF were kept out of its purview. Sitharaman said in a post-budget discussion with Assocham on Sunday that the final decision on including ATF in GST would be taken by the council.
It is not only in the hands of the Centre, it will be sent to the GST Council, he said. It will be included in the subjects of the next council meeting so that it can be discussed. The Finance Minister was reacting to the views of SpiceJet founder Ajay Singh, in which Singh sought the Union Finance Minister’s support to bring ATF under the ambit of GST.
Crude oil reached $ 90 per barrel
Singh had said, oil has reached $ 90, rupee is at the level of 75 against the dollar, so the civil aviation sector has been affected a lot. (To bring ATF under GST) Your support will be of great help.
At present, the central government levies excise tax on ATF while the state governments levy VAT on it. These taxes have also been increased due to rising oil prices.
Big concern for airline companies
The Finance Minister said, of course, not only for the airline but the rising global fuel prices are a matter of concern for all of us, yes this concern is bigger for the airlines as they have not fully recovered after the pandemic. Sitharaman said that she will talk to banks about what can be done for the airline sector.
Price increased for the third time in a month
Let us tell you that earlier this month, oil companies had increased the prices of ATF by 8.5 percent. This is the third hike in jet fuel prices in a month. In Delhi, the ATF price rose by Rs 6,743.25 per kl or 8.5 per cent to Rs 86,038.16 per kl. This is the highest level ever touched by ATF. This rate is higher than the Rs 71,028.26 per kiloliter reached in August 2008, when international crude oil prices touched $147 a barrel.
