New Delhi, May 16 -- Chief Minister Rekha Gupta-led Delhi government has reduced the Value Added Tax (VAT) on Aviation Turbine Fuel (ATF) from 25 per cent to now 7 per cent.
The Delhi Cabinet chaired by CM Gupta approved the decision, which is seen as a move to ease the impact on the air carriers during the current prevailing geopolitical situation and the unstable international fuel market.
According to Chief Minister Rekha Gupta, this concessional rate will be applicable for an initial period of six months. Due to this decision taken in the interest of the country and Delhi, the government may face a revenue loss of approximately Rs 985 crore, according to CM.
Gupta has said that the decision has been taken after Prime Minister Narendr...