No rate revision for hospitality industry & ayurveda; Tax incidence lower for banking sector

FM Arun Jaitley, in reply to question in Rajya Sabha pertaining to hospitality sector, allays fears of leakage in revenues and doom for travel, tourism and hotel industries in light of heavy taxation under GST regime; Resultantly, question of Govt. agreeing to uniform rate at 12% or giving other concessions to hospitality industry does not arise, says FM Arun Jaitley; Explains that accommodation provided by any hotel, inn, guest house, club, camp site etc., irrespective ...