Bringing jet fuel under GST will boost growth: SpiceJet chief at WEF
He said the move would bring down fares, help aviation sector see growth and thus compete globally LATEST NEWS : Ajay Singh, owner of low-cost carrier Spicejet, on Friday, pitched for bringing aviation turbine fuel (ATF) under the ambit of goods and services tax (GST) to lower cost. The move will help bring down fares and boost the aviation sector’s growth, Singh said at the World Economic Forum’s India Economic Summit. Bringing fuel under GST will help airlines claim input tax credit, which will help lower cost. “In aviation cost, ATF is the biggest item. We want the ATF cost to be reduced. States should reduce sales tax and bring it within GST so that we can claim input tax credit. If that happens, prices will come down, fares will come down and the aviation sector will see growth,” said Singh at the conference organised in partnership with the Confederation of Indian Industry (CII). On the states' insistence, petroleum has been kept out of GST and hence c...