VAT on bulk purchase for industries reduced

ANOTHER MAJOR DECISION WAS APPROVAL OF A FOREIGN VISIT OF A HIGH-LEVEL DELEGATION TO SPAIN & SWEDEN

- Vishal Kant

RANCHI: The Hemant Soren Cabinet on Tuesday approved a proposal to increase VAT (value-added tax) on aviation turbine fuel (ATF) to 12 per cent from the existing four per cent, even as it reduced VAT on bulk purchase of high-speed diesel for mining and industrial activities, officials said.

"The Cabinet has given its approval to the amendment in the VAT rate for aviation turbine fuel to 12 per cent from four per cent. Approval has been given for marginal reduction in the rates for high-speed diesel to 15 per cent from 22 per cent or ₹12.5 per litre, whichever is higher," cabinet secretary Vandana Dadel said.

Officials said both decisions had been taken with an aim to augmenting revenue by making the rates comparative with other airports and states.