Page 3 - Atf

Fuel price: What is windfall gain tax and how it affects fuel prices?

What is windfall gain tax? How does it impact petrol-diesel prices? Which countries impose it? Read this detailed article to know everything about fuel and its relation to windfall gain tax

Govt cuts windfall profit tax on domestic crude oil to Rs 13,000 per tonne

The government on Thursday hiked the windfall profit tax on the export of diesel to Rs 7 per litre and that on jet fuel exports to Rs 2 per litre but slashed the levy on domestically produced crude oil. At the third fortnightly review, the government raised the windfall profit tax on the export of diesel to Rs 7 per litre from Rs 5 a litre and brought back a Rs 2 a litre tax on ATF (Aviation Turbine Fuel) exports, a finance ministry notification showed. Last month, the government had scrapped the windfall profit tax on ATF exports. Alongside, the tax on domestically produced crude oil has been cut to Rs 13,000 per tonne from Rs 17,000 a tonne.

Top headlines: Hindalco Q1 net jumps 48%; RBI's digital lending guidelines

The Reserve Bank of India (RBI) on Wednesday released its guidelines for digital lending, listing companies allowed in the business, the rules for loans and data collection, and how fee is charged

Commonwealth Games 2022 haul shows India's game for diverse sports

At the Gold Coast, India's medals came from eight different sports, four fewer than this time

Govt cuts windfall tax on fuel export, raises levy on domestic crude oil

Centre lowers export tax on diesel and ATF; new rates to be effective from Aug 3

Focus on windfall tax review leads to oil stocks ending in the green

Export taxes on petrol are likely to see the steepest reduction, while levies on diesel and jet fuel could also be lowered to adjust the impact of price declines

ATF crisis in Sri Lanka turns opportunity for South India airports

Several flights of Sri Lankan Airlines, Air Arabia, Jazeera Airways, Gulf Air and Air AirAsia Malaysia are depending on Indian airports starting from May onwards, giving additional revenue to OMCs

Govt issues corrigendum to withdraw excise on ATF for international flights

Indian Oil had begun levying 11% duty following a govt notification; ATF accounts for 40% of an airline's operating expenses

Our expansion plans will take a hit due to ATF duty, say airlines

ATF accounts for around 40 per cent of an airline's operating expenses

Govt to review windfall tax on crude oil and fuel exports every fortnight

The review is based on the premise that if crude prices fall, then windfall gains will cease and new taxes would be rollback

Finance Ministry hopes cess will not hit petroleum exports in FY23

The ministry imposed cess on petroleum products of Rs 6 a litre, Rs 13 per litre and Rs 6 on petrol, diesel and ATF exports, respectively, to improve domestic fuel supply and garner additional revenue

Not easy for airline to turn profitable in India, says IATA official

Philip Goh, Regional Vice President for Asia Pacific of International Air Transport Association, made the remarks during a press conference at the 78th annual general of the global airlines meet

Catch 22: Airlines want a 15% hike in airfares but fear a drop in traffic

In the nine hikes since January 1, the jet fuel prices have been increased by Rs 49,017.8 per kl or nearly 55%

No decision on reduction in tax on ATF to bring down prices: Report

The finance ministry has not yet taken a view on the civil aviation ministry's plea for tax cuts on jet fuel (ATF) to bring down prices, a top source said on Wednesday.

Domestic air passenger traffic logs estimated 83% growth in April: ICRA

Domestic air passenger traffic is estimated to have logged an 83 per cent growth year-on-year at 10.5-million in April as Covid-19 infection cases waned, leaving a gap of just 5 per cent when compared to the pre-pandemic level, ICRA said on Monday. Indian carriers had flown around 11 million passengers in April 2019. However, the domestic airline operators saw the international passenger traffic marginally surpassing the pre-pandemic numbers (around 1.83 million), with total volumes standing at around 1.85 million, it said. It also said that rising aviation turbine fuel (ATF) prices due to ongoing geo-political issues linked to the Russia-Ukraine conflict continue to evolve as a major threat to the recovery process. For April 2022, the average daily departures were at around 2,726, notably higher than the average daily departures of around 2,000 in the same month a year earlier and higher compared to around 2,588 in March 2022, said Suprio Banerjee, Vice-President & Sector Head, ..

ATF hiked by 2% to all-time high amid surge in global energy prices

The increase in ATF price comes on back of the steepest ever hike 18.3 per cent (Rs 17,135.63 per kl) effected on March 16.

SpiceJet, GMR group announce sustainable aviation fuel initiatives

Globally, International Air Transport Association has set a target for airlines to achieve net zero emissions by 2050

India making steady progress, global crisis notwithstanding: RBI article

The article in the RBI Bulletin on 'State of the Economy' said, 'unfolding global developments nevertheless pose downside risks in terms of spillovers.'

IndiGo 'in talks with Central govt' to bring aviation fuel under GST ambit

IndiGo's full-time Director and Chief Executive Officer Ronojoy Dutta urged the Central government to bring the Aviation Turbine Fuel (ATF) under goods and service tax (GST) ambit

ATF price hike may delay the recovery seen by airlines recently

Raising the airfares further could hurt traffic volumes