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Travel sector seeks tax cuts, incentives
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According to industry estimates, travel and tourism sector has accrued losses to the tune of ₹90, 000 crore.
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The travel and tourism industry, which is reeling under the impact of the covid-19 pandemic without any stimulus package, has urged the government to provide concessions and incentives ahead of the Union Budget on 1 February.
The Indian Association of Tour Operators (IATO), which represents more than 1,600 operators for inbound tourists, has asked the government to exempt the tourism sector from the integrated goods and services tax (IGST) similar to IT industry, which also provides services to international clients and brings foreign exchange but does not have to pay this tax.