Union ministry may consider waiver of GST for cruise tourism
The Union Ministry may consider reduction or waiver of GST (Goods and Service Tax) for cruise tourism service. It was announced by the Nitin Gadkari, Union Minister for Road Transport, Shipping and Highways. He was speaking at the first international conclave for global cruise tourism in India held on 30th August 2018.
“The matter may be discussed in the coming GST financial meeting presided by Union Finance Minister Arun Jaitley,” said the minister.
He expressed dismay on the slow progress of cruise tourism industry in the country. He exhorted for more investment in the shipping industry.
The request for reduction or waiver of GCT for cruise tickets was put forth by the executive members of the Indian Cruise Association in the meeting. They requested the minister, either to exempt or to reduce it to 5 per cent from the current 18 per cent. The minister assured the matter would be presented to the finance ministry for their consideration.
“Apart from GST, the government plan to provide 20 per cent subsidy to shipbuilders in Indi,” said the minister
“Our cruise tourism policy was not impressive to investors. So, we have made a lot of changes,” he said. “We expect to have at least three lakh passengers to travel to Singapore from Mumbai on a daily basis. Similarly at least one crore passengers must use cruise tourism on a daily basis in the next three years. All the facilities for the same shall be provided by the ministry,” added Gadkari.
