Hospitality, travel sector players want infrastructure status for hote industry
Hospitality and travel sector players demand infrastructure status for the hotel industr exemption on LTA, and reduction in income tax levels. They also recommend removal on automated bookings and reducing the number of licenses required to establish a h The industry seeks rationalization of GST and a Central single window clearance for ho projects. Lowering of GST rates on hotel room tariffs above Rs 7,500 is also requested.
New Delhi: Hospitality and travel sector players on Tuesday demanded infrastructure status for the hotel industry besides measures such as tax exemption on LTA annually to boost domestic tourism ahead of the Union Budget. They also recommended removal of the current TDS levied on automated bookings for internal or closed user groups such as business travel platforms and reducing the total number of licenses required to establish a hotel.
"A full-blown infrastructure status for the hotel sector and further rationalisation of the Goods and Services Tax (GST) and a Central single window clearance for hotel projects are some of the major expectations from the Budget 2024," Roseate Hotels & Resorts CEO Kush Kapoor said in a statement.
The industry has been clamouring for infrastructure status for decades. The status will enable hotel projects to have easy access to cheaper debt that is at par with projects in other industries. A reduced capital cost will have a bearing on both timely completion of projects and their overall financial health, he added.
