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New Delhi, January 8:: This year’s Budget may bring some relief to the tourism industry, which has suffered a sharp drop in business in the last few months due to terrorist attacks in the US and, more recently, on the Indian Parliament. The tourism ministry, which has taken up the cause of the industry with fervor, will discuss the possibility of extending service tax waiver for hotels beyond the current financial year with revenue secretary S Narayan in a meeting this week.
The ministry is also pushing for an exemption in expenditure tax and luxury tax for hotels in Budget 2002-03.
Speaking to The Financial Express, ministry sources said there was a strong possibility that the finance ministry would agree to extend service tax exemption in the new financial year. Sources added that the tourism ministry had already started discussions with the finance ministry on the need to extend maximum support to the industry to help it face the current period of crisis.
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