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Budget 2024: Travel agents expect GST rate rationalisation for tourism

  • 10 Jul 2024
  • Team Edukating
  • 317

Travel agents body TAAI on Monday sought a slew of measures, including simple visa requirements and encouraging visa-free entry for tourists visiting India, rationalisation of GST rates and GST credit, and industry status for all stakeholders in the segment, among others, for the domestic travel and tourism sector, which contributes 5.8 per cent to the India's economy.

"The Union Budget 2024 holds significant expectations for India's travel and tourism sector. India's travel and tourism sector contributes 5.8 per cent to the GDP and aims for a target of USD 1 trillion by 2047. We hope the budget addresses these priorities," Travel Agents Association of India (TAAI) said.

It said that these measures, if implemented, can significantly enhance India's travel and tourism industry, benefiting both businesses and travellers, it said.

Travel Agents Association of India (TAAI) in a statement also said that despite its various representations on concerns of ease of doing business, goods and service tax (GST) and tax collected at source (TCS) among others, related to the travel industry at the time of the interim budget in February this year were ignored.

The Association said it had conveyed its dissatisfaction to the interim budget presented by Finance Minister Nirmala Sitharaman prior to the Parliamentary polls this year.

Source : https://www.business-standard.com/budget/news/budget-2024-travel-agents-expect-gst-rate-rationalisation-for-tourism-124070801059_1.html