Government cuts excise duty on jet fuel

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After petrol and diesel, the government on Wednesday slashed excise duty on jet fuel to 11 per cent to give relief to the aviation industry.

The government decided to cut the excise duty on jet fuel or aviation turbine fuel (ATF) to 11 per cent from current 14 per cent in a bid to give relief to the air industry that has been hit hard by high fuel prices recently.

The cut on excise duty will come into effect from October 11, a notification issued by the revenue department in the finance ministry said.

Jet fuel prices this month hit their highest level since January 2014 as rising international oil prices and plummeting rupee value pushed rates.

The fuel in Delhi currently costs Rs 74,567 per kilolitre (Rs 74.56 per litre) and in Mumbai, it is priced at Rs 74,177 per kl.

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