Breaking News

You are here » Indian-Commodity  :  Top News  :  Jet Air India Announces New Service Tax On Domestic And International Travel

01-Jul2010

Jet Air India Announces New Service Tax On Domestic And International Travel

Jet Airways (India) has announced that a service tax of 10.3% on the gross value of tickets for all classes on domestic flights and economy class on international flights will be levied on tickets sold, issued or re-issued, effective 01 July 2010 as per the directive of the Ministry of Finance, Government of India.

All domestic travellers would thus have to bear a service tax of 10.3% on the gross value of the ticket or Rs. 103, whichever is lower. For economy class tickets for international travel, a service tax of 10.3% on the gross value of the ticket or Rs. 515, whichever is less, will be levied. The service tax is only applicable on journeys originating in India. This service tax as collected will be credited to the Government of India Service Tax account.

The gross value of the ticket for the calculation of the service tax will include the base price and fuel surcharge in addition to the congestion fee. Passenger service fee and airport charges (UDF/ADF) will not be covered for determining the gross value of the ticket.

Jet Airways, India's premier international airline and its all economy subsidiary JetLite will collect this service tax under the tax code 'JN'. This is in addition to the already existing collection of service tax for international air travel for both premiere and first class passengers. However, airline crew travelling on duty and United Nations staff are exempted from paying this service tax.

The company made this announcement during the trading hours today, 01 July 2010.

Related News

View all news

Crude futures slump on dollar strength

Crude oil futures declined again on Friday, as the dollar strengthened to near its 12 months high, slump in Chinese equities too added pressure to oversupplied crude futures. Dollar strengthened against......

Gold futures end lower as dollar strengthens

Gold futures ended lower on Friday as the dollar strengthened against a basket of major currencies. Gold futures further weakened on expectations of US interest rate hike by the Federal Reserve next month.Gold......

Copper futures end higher on Friday

Copper futures ended higher on Friday on hopes that Chinese government metals stockpiling would lend some support to the global market. Though, dollar strengthened against a basket of major currencies......

Top News

View all news

Dr Reddy's,Ashok Leyland, Fortis Healthcare and Welspun Corp to see some action today

US Food and Drug Administration (USFDA) has extended deadline for Dr Reddy's laboratories to respond to its warning letters till December 7, 2015. The company is in the process of preparing a response......

Idea, Hero MotoCorp and Dr Reddy's to see some action today

Idea Cellular has entered into agreement with Videocon Telecommunications for acquiring right to use spectrum of Gujarat and Uttar Pradesh (West) for Rs 33.10 billion. This agreement for the company's......

Hexaware, Lanco Infratech and Petronet LNG to see some action today

Hexaware Technologies has entered into a strategic partnership with Blue Prism, the leading developer of robotic process automation (RPA) software, to transform support processes by enabling rapid automation......