The move would bring down fuel prices for the ailing aviation industry
Excise duty applicable to aviation turbine fuel (ATF) or jet fuel has been cut, the government announced on Wednesday. The Revenue Department, under the Ministry of Finance, said in a notification that excise duty of 11 per cent will be applicable on ATF, as against the existing 14 per cent. The new rate of excise duty will take effect on October 11, 2018, the official statement said. The move is expected to bring down fuel prices for the country's aviation industry, which has been hit hard by high fuel prices.