‘Unified tax structure is the way to go’

Against the backdrop of a high growth potential in Indian Travel & Tourism market, an organized tax structure is vital, claims Anil Parashar, President and CEO, InterGlobe Technology Quotient. He adds, “The implementation of the unified tax structure is a huge step towards preparing the nation that is expected to grow at $160.2 billion by 2026. Although, the industry presently has mixed reactions towards the introduction, going forward, this step would attract more industry growth as the GST has been planned according to the tax player’s capability. For example, GST Council reduced service tax on economy class from 6 to 5 per cent while increasing business class to 12 per cent from the current 9 per cent.”