- IATO is urging the government to restore the SEIS benefit back to what it was the prior year.
- It was requested to raise the percentage to 10, however, it was slashed by 2 percent instead.
- The reduction in the percentage to 5% will impact the small and medium tour operators, while capping of Rs. 5 crores will badly impact the large tour operators.
“The past one-and-a-half years have been one of the worst phases for tour operators, and in view of the debilitating hardship endured, it is urged that the government restores the SEIS benefit to 7 percent as was paid a year before,” said IATO President Rajiv Mehra.
For the last 18 months, inbound tour operators had almost zilch income with several of them folding up their businesses. In view of that, the SEIS benefit was awaited on for a long time, as this would provide some financial succor that would help the tourism sector tide over this COVID-19 coronavirus crisis.
During the deliberations, the government was requested to raise it to 10 percent as a one-time measure, however, the lowering of the benefit and capping it to Rs 5 crores is disappointing and the government is requested to at least raise it to 7 percent and remove capping of Rs. 5 crores at least for the tourism and hospitality industry.
“We are hopeful the government would favorably consider our plea,” said Mr. Mehra.
It is to be noted that reduction in the percentage to 5% will impact the small and medium tour operators, while capping of Rs. 5 crores will badly impact the large tour operators.
Tourism has contributed significantly to the treasury and has been a major employer as well. In a distressful situation like this, the tourism sector looks for assistance from the government for survival and revival.
The Service Exports from انڊيا Scheme (SEIS) aims to promote export of services from India by providing duty scrip credit for eligible exports. Under the scheme, service providers, located in India, would be rewarded under the SEIS scheme, for all eligible export of services from India. In this article, we look at the Service Exports from India Scheme in detail.
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- During the deliberations, the government was requested to raise it to 10 percent as a one-time measure, however, the lowering of the benefit and capping it to Rs 5 crores is disappointing and the government is requested to at least raise it to 7 percent and remove capping of Rs.
- “The past one-and-a-half years have been one of the worst phases for tour operators, and in view of the debilitating hardship endured, it is urged that the government restores the SEIS benefit to 7 percent as was paid a year before,” said IATO President Rajiv Mehra.
- It is to be noted that reduction in the percentage to 5% will impact the small and medium tour operators, while capping of Rs.
