Srinagar: The Jammu and Kashmir administration on Monday reduced the Value Added Tax (VAT) on the Aviation Turbine Fuel (ATF) for airlines operating in J&K region, from the existing twenty six per cent to one per cent.
As cheaper fuel will reduce the operating cost for the airlines, they are likely to pass on the benefits to the travelers by reducing the airfares.
“….In scheduled appended to the said notification, in S. No3 ( Aviation Turbine Fuel), in column 3 for the figure and sign 26.25% the figure and sign 1% shall be substituted” reads an order issued by the Finance Department of the J&K Government dated 11.10.2021.
11/10/21 Saqib Malik/Greater Kashmir
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