Hemant Soren's Jharkhand govt hikes VAT on jet fuel from 4 to 12%

Ranchi: The Jharkhand government on Tuesday decided to increase VAT (value-added tax) on aviation turbine fuel (ATF) to 12 per cent from four per cent.

It also decided to reduce VAT on bulk purchase of high-speed diesel for mining and industrial activities to 15 per cent from 22 per cent or Rs 12.5 per litre, whichever is higher.

The decision was taken during a cabinet meeting chaired by Chief Minister Hemant Soren.

"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," cabinet secretary Vandana Dadel said while briefing media persons.

A high-level delegation constituted under the leadership of Chief Minister Hemant Soren will soon visit Spain and Sweden to attract investors and encourage industrial investment in Jharkhand.

The cabinet approved the expenses associated with the visit, she said.