Govt considering levying specific rate of excise duty on aviation turbine fuel

With no sight of including jet fuel in Goods and Services Tax (GST) in near future, the government is considering levying specific rate of excise duty on aviation turbine fuel (ATF) in place of current ad valorem rates to insulate its prices from cascading effect in times of volatile prices. ATF presently is chargeable at 11 per cent ad valorem rate of excise duty. Concessional rate of 2 per cent…