GST on jet fuel: Airlines can earn Rs 5,220 crore input tax credit

Airlines can annually earn combined input tax credits of Rs 5,220 crore – more than five times of what they are getting now – if jet fuel is bought under the ambit of goods and services tax (GST). Also, contrary to fears that the government will lose out on tax revenue, it will actually earn Rs 10,353 crore, 7% more than what it gets now if the fuel becomes a GST item. These assessments were given…