BUDGET 2020: What’s coming up?

Shwetank Singh, Vice President, Development and Asset Management, InterGlobe Hotels, says, “One of our major demands as an industry continues to be infrastructure status for hotels with a capital expenditure of INR 50 Crores. Since the GST regime has been established, the cost of construction has gone up by 8-10% as the entire civil structure is treated as an immovable property. We are hoping to get the option to claim input tax credit on GST for this. Also the industry has struggled with variation in bylaws, approvals and licenses, which is why a nodal body is required. This will help us in terms of having a proper time bound escalation mechanism. With these main areas of standardisation we are expecting a positive Union Budget 2020 which keeps the tourism agenda at the core of economic growth.”