State slashes VAT on jet fuel Mumbai: Even as the Maharashtra government moved swiftly to cushion the aviation sector by slashing Value Added Tax (VAT) on Aviation Turbine Fuel (ATF) from 18 pc to 7 pc, sections of Mumbai’s cab unions demanded an immediate fare hike following the latest increase in compressed natural gas (CNG) prices by Mahanagar Gas Limited (MGL). The VAT reduction on jet fuel will remain in force for six months - May 15-Nov 14 - vide an official notificatio