The Kerala government has announced a major tax concession for the state during the upcoming state budget.
The budget presented in the state assembly last week by finance minister K M Mani, offers several tax concessions to the tourism industry. The state has reduced the luxury tax to five percent on hotels from June to August to promote off-season travel.
“The tax concessions announced in the budget will certainly help the tourism industry, which plays an important role in the state’s economy. The concessions will give a new fillip to the tourism industry in Kerala and help the state discover new avenues of growth for the important sector, which has received several awards and recognitions,” AP Anilkumar, Tourism Minister of Kerala was quoted as saying by the Financial Express.
The government has also reduced luxury tax on convention centres and auditoriums with a daily rent exceeding INR20,000 to 10% from the existing 20%. The move is expected to boost MICE tourism in the state. Other announcements for the tourism industry relate to substantial increase in allocation for marketing destinations and implementing special tourism projects.
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