Federation of Associations in Indian Tourism & Hospitality (FAITH) shares with tourism minister revival plan

March 16, 2020

 

FAITH (Federation of Associations in Indian Tourism & Hospitality), along with all the member associations (ADTOI, ATOAI, FHRAI, HAI IATO, IHHA, ITTA, ICPB, TAAI, TAFI), had a crisis response meeting with the tourism minister and shared with him the following points to address the unprecedented crisis and prepare for a revival and readiness plan.

 

1. A 200% weighted exemption of expenses to corporates on all domestic conferences.

 

2. A six-to-nine months’ moratorium on all principle and interest payments on loans and overdrafts/deferment of GST and Advance Tax Payments at the Central Government level and removal of fees for any upcoming licences/permits renewal/ excise exemption for liquor for the hospitality and travel industry across the states. 

 

3. A complete GST Tax Holiday for the Tourism, Travel & Hospitality Industry for the next twelve months till the time the recovery happens.

 

4. Restoration of the SEIS scrips for duty credit of 10% to Tourism, Travel & Hospitality industry.

 

5. Relaxation in the MDA terms.

 

6. A national tourism task force of the Centre and the State, which meets regularly and develops the revival plan and fast tracks investment approvals.

 

7. An advisory to airlines to not levy cancellation fees/ issue full refunds or issue credit notes.

 

8. Usage of the MNREGA funds to support salaries of employees in the Tourism, Travel & Hospitality industry till the time revival happens.

 

9. Fast track all GST refunds for the industry wherever they are getting stuck.

 

10. 300-basis point interest rate reduction and immediate transmission to the industry on term loans and working capital loans.

 

11. The proposed TCS on travel in Finance Bill 2020 not to be introduced.

 

12. Automatic increase in working capital limits by 50%.

 

13. Removal of X-Visa requirement for peaks.

 

14. Help from the Minister in taking a FAITH delegation for meeting with the Prime Minister

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