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Stakeholders in Goa’s hospitality industry have welcomed the state government’s Budget announcement, which promises a 50% rebate on state Goods and Services Tax (GST) along with several incentives for those investing in hotels located in the state’s hinterland.
The Restaurant sector is seeking industry status and restoration of input tax credit from the government. In a letter written to the Finance Minister Nirmala Sitharaman, the National Restaurant Association of India (NRAI) has sought certain policy and budgetary support to fuel the growth of the industry including simplified licensing regime and targeted subsidy scheme.
In a major change for the hospitality industry and in what could be a good news for diners, the Goods and Services Tax (GST) Council has decided to allow high-end hotels to choose between two indirect tax rates for restaurant services provided on their premises.
GCCI has asked Union finance minister Nirmala Sitharaman to reduce the GST on all hotel bookings to 12%. This move will benefit Goa’s hospitality sector as it competes with destinations like Sri Lanka and southeast Asian nations, where tax structure is more competitive.
Mr. M.S.VIJAYAKUMAR, ASSISTANT COMMISSIONER (SGST) (RETD) MADURAI Off late in Indian scenario the hospitality sector is the fastest-growing sector. Travel…