A STUDY ON IMPACT OF GST ON HOTEL INDUSTRY
For growth and economic development of any country, it is very necessary to provide maximum opportunities for the growth and development of different industries in the country. According to KPMG, it now contributes 8.2 percent of the country’s GDP. According to a ministry of Tourism data, Hotel industry also receives the largest FDI, which shows a 32% growth year on year. The hotel industry in India is expected to reach a value of INR 1,210.87 billion by the end of 2023, expanding at a compound annual growth rate (CAGR) of 13% during the 2018- 2023 period, owning to the high arrival rate of foreign tourists and business delegates.