Government Aims to Boost Cruise Tourism with New Tax Regime

In an effort to significantly enhance cruise tourism, the government has proposed a simplified tax regime for foreign shipping companies operating domestic cruises in India. This initiative, announced by Finance Minister Nirmala Sitharaman during her Budget speech on Tuesday, aims to capitalize on the country's potential in the cruise tourism sector. "There is tremendous potential for cruise tourism in India. To give a fillip to this employment-generating industry, I am proposing a simpler tax regime for foreign shipping companies operating domestic cruises in the country," said Sitharaman. The government is actively working...