Hospitality industry in India, a big contributor to the country’s economic growth is on high growth trajectory and is expected to reach Rs 2,796.9thousand crore by 2022*. The industry also contributes significantly to employment, FDI and Foreign exchange.
However, recently the industry has already been severely impacted by the Supreme Court liquor ban and the much awaited Goods and Services Tax (GST) rates has come as another shocker. These high and complex GST rates will create further impediments to the industry’s growth which is still maturing. At the same time the new tax structure will also position India poorly as a destination visa vie our competitors in the international market that have much lower taxation
