Expecting the Union Budget 2023-2024, a promising one for the hotel industry, Kush Kapoor, CEO, Roseate Hotels & Resorts, said, “A full-blown infrastructure status for the hotel sector and further rationalisation of the GST and a Central single window clearance for hotel projects are some of the major prospects from the Union Budget 2023.”
Kapoor further added, “The GST Council in 2019 green-lighted reduction in the rates on the hotel tariffs. The rooms with tariff of ₹7,500 and above attract a GST of 18 per cent instead of 28 per cent. The rooms with tariff between ₹1,001 and ₹7,500 are taxed at 12 per cent. An 18 per cent GST is still high in this competitive scenario, it would have been better if it was revised to 12 per cent for the rooms with the tariff of ₹7,500 and above.”
