Mumbai: The Travel Agents Association of India (TAAI) has sought ‘One India One Tourism’ method, which is inclusive of ‘One Tax Structure,’ within the forthcoming union funds to revive the pandemic-hit home journey, tourism and hospitality business.
Besides, the Association has sought bringing aviation turbine gas (ATF) beneath the ambit of GST to make air journey “more viable” for all stakeholders in addition to extension of the emergency credit score line assure scheme (ECLGS).
There are a number of features which may be anticipated within the upcoming Budget to help the whole sector of ‘journey tourism and hospitality,’ which can assist in making this sector revive and survive, TAAI, which is headed by Jyoti Mayal, mentioned in an announcement on Saturday.
“For this, it is extremely important for both the central and state governments to work in tandem to facilitate this sector and support it to be included in the concurrent list to get Industry status to make it more structured,” the affiliation mentioned.
TAAI mentioned the federal government ought to attempt to extend the disposable revenue of the center lessons to spur that discretionary spending.
According to the journey brokers physique, concrete steps ought to be taken to enhance money flows and scale back the working capital burden on startups, current MSMEs and SMEs together with entry to straightforward credit score, lowering revenue tax charge and GST charge, abolishment of tax collected at supply (TCS) and wage help with ease of enterprise.
Besides, strengthening MSMEs, making a fund of funds scheme for know-how adoption to be used in business 4.0, reviving the credit score linked capital subsidy scheme (CLCSS) for know-how upgradation are the opposite steps TAAI is anticipating within the forthcoming union funds, it mentioned.
To revive this struggling sector, “we need ‘One India One Tourism’ approach inclusive of ‘One Tax Structure,” TAAI mentioned within the assertion, including that, vital factors to be thought of are e-visa charges waiver for all vacationer visas for 2022-2023, to help inbound revival export standing for tourism export earnings.
It has additionally sought double expenditure allocation for the tourism ministry to allow intensive world reach-out to help the inbound revival in addition to home revenue tax journey credit score for Indian residents and Indian corporations to help home retail and home MICE (conferences, incentives, conferences and exhibitions) pick-up.