P Chidambaram, Minister for Finance, Government of India, has asked states to slash taxes on Aviation Turbine Fuel (ATF) to give some relief to the airline industry, which is severely hurt by rise in fuel prices. Jet fuel constitutes almost half of an airline's operating costs, compared to 20-25 per cent globally, due to high taxes on ATF levied by different states, ranging from 4-30 per cent, according to a report in The Economic Times. The airline industry has been demanding reduction in sales taxes by state governments or declaring the commodity as a declared good, lowering the tax to two per cent.
Source: http://www.travelbizmonitor.com/finance-minister-asks-states-to-reduce-tax-on-atf-19088
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