Goa tourism industry needs tax sops: Industry

Panaji, July 5

The state tourism industry should be granted tax sops in the budget to be presented by Finance Minister Pranab Mukherjee Monday, a leading industry chamber here has said.

According to the Goa Chamber of Commerce and Industry (GCCI), the state's tourism infrastructure also needed needed to be upgraded if it were to compete with other tourist destinations the world over.

"The GCCI has requested the finance minister for tax exemptions under section 80 ID to be extended to cover tourism infrastructure such as amusement parks, water sports and marinas," chamber president Cesar Menezes said in a statement.

Section 80 ID of the Income Tax act presently provides for a five-year tax holiday to new hotels of two, three and four star categories and convention centres.

"Though Goa ranks very high among favoured tourist destinations in the world, the state grossly lacks in world class tourism infrastructure," Menezes said.

Menezes said selective tax concessions specifically designed for the export sector would similarly help the considerably large and export-oriented pharmaceutical industry in Goa.

Last updated on Jul 5^th, 2009 at 17:37 pm IST--IANS

Possibly related news:

Other News Headlines

Dubai records pearl trade worth over $27 mn in 2009

Dubai, March 21

Pearls trade in Dubai has crossed the record $27 million mark last year, registering 30 percent increase in the import of the precious gem from several countries including India and Australia.

Maharajas' Express chugs out from Kolkata

Kolkata, March 20

Railway Minister Mamata Banerjee Saturday night flagged off the Kolkata-Delhi luxury tourist train Maharajas' Express from here.

Government to decide on cooking gas, kerosene price hike

Chennai, March 20

The central government will take a decision on hiking the cooking gas and kerosene prices on the lines recommended by Kirit Parikh committee, an official said Saturday.

NTPC plans 1,000 MW thermal power plant in Gujarat

Gandhinagar,

Gandhinagar, March 20 IANS) The National Thermal Power Corporation Ltd (NTPC) will set up a 1,000 MW coal-based thermal power station at Khambat in Gujarat's Anand district at a cost of Rs.5,000 crore.

Singapore to import fruits, vegetables from Andhra

Hyderabad, March 20

Singapore President S.R. Nathan Saturday agreed in principle to import fruits and vegetables from Andhra Pradesh, the chief minister's office said.

Enter Your Name and Email below and Post your comment
Name	Email:
Comment:

Please login to use this service
Usermame :
Password :
Quick signup \| Forgot Password