12-month corporate tax holiday to tourism & hotel sector needed: HVS

In a recent report by HVS, a few suggestions have been made to the government to battle the ongoing crisis which includes Policy support, Monetary support, Fiscal support and Direct support to revive demand. In ‘Fiscal support’, the report recommends to provide a 12-month corporate tax holiday to travel, tourism & hospitality sector. It also suggests to defer all statutory dues such as advance tax, custom duties, exercise duties, PF, bank charges etc at central and state level for 12 months.