Union Budget 2023 Income Tax Refund To Foreign Tourists On Goods Bought In India

India Budget 2023: In the Union Budget 2023, the common people and the industry have special hopes about some things. A demand is being made to give income tax refund to foreign tourists on goods taken out of India. This proposal has been presented on behalf of the export and tourism industry. He says that with the implementation of this scheme, international travelers will be attracted and the number of foreign buyers in India will increase.

It has been said in the proposal that this will increase the demand for Indian goods in places like UAE and Singapore. Also, the number of passengers will increase from there. Industry officials and experts said that Section 15 of the IGST Act, 2017 has a provision for a tax refund scheme for tourists, but it has not been implemented yet.

Proposal sent to implement in budget 2023

Jyoti Mayal, vice-president of the Federation of Indian Tourism and Hospitality Associations, said that this issue of the industry has been raised collectively before the Union Budget for 2023-24. Ashish Gupta, Consulting CEO of the industry body, said that the tax refund scheme for tourists was introduced on July 1, 2017, during the rollout of GST. Now it should be implemented. He said that the proposal has been sent to the Ministry of Tourism and a demand has been made to implement it in the budget.

Giving tax refund will give a boost to tourism

Indian Association of Tour Operators (IATO) President Rajeev Mehra said that the association has recently written to the Finance Ministry in this regard. “It is in our budget recommendations and we have mentioned that it needs to be made available to all foreign tourists. GST on purchases applicable to foreign tourists should be given back,” he said. Federation of Indian Export Organization Director General Ajay Sahay Said that the government should conduct tax refund to tourists to promote export tourism.

what will be the benefits

Experts believe that if tourists are given the benefit of tax refund, not only will Indian goods be promoted, but the number of tourists will also increase. Along with this, the demand for local goods can also increase. Let us tell you that Finance Minister Nirmala Sitharaman will present the budget on 1 February 2023.

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