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GST News Details

Budget 2023-24: PHD Chamber Seeks Single GST Rate for Hotels at 12%

As the government is set to present the union budget for FY24 on 1 February, 2023, PHD Chamber of Commerce and Industry has suggested the government to make maximum GST on hotel rooms at 12 percent.

Currently rooms priced up to â‚¹7,500 per day attract a GST of 12% and those above â‚¹7,500 a day come under the 18% tax slab.

“The 18% GST category for hotels with room rates of more than 7,500 rupees (US$100) must be abolished and merged with the 12% GST category. Gradually, GST should be brought down further, below 10 per cent with full set-offs in line with global trends," the industry body said in their pre-budget expectations.

PHDCCI also urged the Centre to declare industry status to tourism sector and set up a corpus fund for tourism infrastructure to underwrite their national industry status by compensating states for any losses.

“To fast-track investments, it is recommended to establish a centralised approval system for most common approvals, licenses & permits on an E- approvals basis. These should be granted within a pre-defined frame or deemed to be approved," it said.

The industry body urged the Centre to make a provision for one country-one road tax for tourist transportation to encourage seamless road travel across India.

The Chamber in its recommendations also requested to create a provision for income tax set off for Indians for holidays and conducting conferences and exhibitions within India.

Supporting the demand of the MICE industry in the country, the Chamber suggested creation of a global bidding fund for bidding starting with a corpus of â‚¹100 crore to enable Indian companies to bid for meetings, incentives, conferences and events.

Source : Live Mint