Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: list of goods taxed at 4% :: cpt :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: VAT RATES :: form 3cd :: empanelment :: Central Excise rule to resale the machines to a new company :: TDS
General »
 Banks warn share tax hike threatens Paris' post-Brexit appeal
 PMC may decide on property tax rebate for IT firms this week
 I-T Dept is giving out certificates of appreciation. Have you received yours?
 Government works on ironing out benefits refund mechanism for exportersa
  Tax officials are using an IDS provision to question transactions beyond six-year-limit
 Tax-free bonds rally like midcap funds
 Senior citizens do not have to pay advance tax on salary and interest income
 GST: Audit commissioners to get adjudication powers
 Interest on NRE rupee account can be exempt from tax under FEMA
 Impact of GST on Real Estate Sector
 GST regime: Tax payers allowed to take option of third-party interfaces

Jaitley advocates for low tax regime in tourism sector
August, 22nd 2014

Advocating for low taxation regime, finance minister Arun Jaitley on Thursday said if higher taxes are levied on the tourism industry, then there will be less tourists and lesser revenue collection.

"If tourism industry, state governments and the Centre are loaded with higher taxes then we will have less tourists and lesser collection," he said at a tourism ministers conference here.

Hinting at the existing higher taxation on tourism sector, Jaitley said, "Today, wealthy Indians are finding it cheaper to get their children married in Thailand than in Indian hotels. It's a hard reality."

Tour operators are demanding reduction in various taxes for long particularly exemption of service tax on packaged tours as the payment is made in forex.

Jaitley said the present government at the centre believes that "we are low taxation government not high taxation. If you leave more money at the hands of tax payers he would spend more. The economy expands more. If you levy lower taxes then products will be cheaper their saleability increases."

Seeking lower room rates and deduction in airfare, the Union minister said, "This principle applies to airlines and hotels also. If our airline is going to be costlier, if hotels are going to be costlier in comparison to the rest of the world, our volume will never increase. Costly rooms rates means less tourists. Less tourists means lower revenue for the government. Higher taxation on tourism means less tourism. which means lower earning."

Highlighting the importance of tourism industry, he said "if India is to grow and Indian economy is to grow then tourism is certainly one of the low hanging fruits which is achievable."

Dubbing the tourism sector as one of the "underachieved sectors" in India, Jaitley said we have everything going for tourism in the country like large coastline, huge mountain range in various parts of the country, seasonal variations in terms of weather, most beautiful rivers and forests in different parts of the country.

"We have archaeological monuments which are of great global interests. We have some of the best pilgrims centres in the country. We have large cultural heritage and we have great metropolitan cities. So world should have been extremely curious to see what lies in India," he added.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions