Iato - Latest News Update, Information, Photos & Videos on Iato at Lokmat Times

New Delhi, July 28 Federation of Associations in Indian Tourism & Hospitality (FAITH), the policy federation of all the ten national associations representing the complete tourism, travel and hospitality industry of India DTOI, ATOAI, FHRAI, HAI, IATO, ICPB, IHHA, ITTA, TAAI & TAFI, has thanked the Fitment Committee for considering favourably the drawback of taxes on foreign tourists on their goods purchases in India.They have recommended five rationalisation measures across the tourism, travel and hospitality value chain for consideration for the next GST Council meeting.*Hotels to be allowed to charge IGST which will enable seamless availability of credit across India to all travel agents and tour operators and will thereby lead to building up a sustainable domestic holiday and meetings and conventions business within the country.* Tour operators to be enabled a special presumptive GST rate of 1.8 per cent with full GST set-offs. The current rate of 5 per cent without setoffs structurally implies that tour operators have an inbuilt margin of around 27.8 per cent which is an inherently flawed assumption of the prevailing business models. This by default creates an inherent linkage to value addition only and prevents a tax on tax.* Travel Agents be also allowed the option of exploring the reseller model for charging as they are distribution arms for airlines. This option will enable travel agents to structure optimal partnerships as per their business requirements between their clients and their airline partners.* Tourist transporters be allowed the provision for availing GST set-offs on interstate Tourist transport taxes, taxes on parking fees and on taxes on fuel which is their biggest input costs.* Restaurants should be also allowed the additional option of charging GST at 12 per cent with full Input tax credits and the rate should be de-linked from any room tariffs if they are part of hotels.FAITH mentioned, that Indian tourism has an immense inherent potential to create up to 10 crore additional jobs pan India over the long-term period, triple its GDP contribution and create forex earnings up to $75 - $100 billion and GST is a key enabler for creating this global and domestic competitiveness in tourism directly and through its indirect impact.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Iato, NewsFOLLOW

Iato, Latest News

Chhatrapati Sambhajinagar: The district administration has vowed to host major tourism-related events on a grand level and enhance tourist ... ...

Rafique Aziz Aurangabad: The tourism industry in Aurangabad is gasping for a fresh lease of life after the pandemic ... ...

Aurangabad The 38th Convention of the Indian Association of Tour Operators (IATO) will be held next year in September ... ...

Aurangabad: Noted industrialist and tourism expert Sunit Kothari today shared his expertise as one of the prominent speakers on ... ...

Lucknow has added another feather in their cap as its own The Centrum Hotel has been declared a five star hotel during the ongoing IATO's (Indian Association of Tour Operators) Annual Convention today. ...

Lucknow (Uttar Pradesh)[India], December 16: Lucknow has added another feather in their cap as its own The Centrum Hotel ... ...

Lucknow (Uttar Pradesh)[India], December 16: Lucknow has added another feather in their cap as its own The Centrum Hotel ... ...

New Delhi, July 28 Federation of Associations in Indian Tourism & Hospitality (FAITH), the policy federation of all ... ...