For the upcoming Budget 2021, Arun Chittilappilly, Managing Director, Wonderla Holidays says:
COVID-19 had a massive impact on the amusement parks business with no revenue for more than eight months at a stretch. Considering the initial investments and gestation period, the Goods and Services Tax (GST) for the amusement parks should be reduced to 12 percent, from the existing 18 percent.
Amusement parks cater to all customer segments and the share from B2B customers is less compared to walk-ins. It would be good to exempt amusement parks from e-invoicing and treat us at par with the cinema halls.
Amusement parks should also be exempted from any state-level tax burden like local body tax (LBT). In addition to GST, a few states also levy an additional 10% LBT. This will have an overall impact on the viability of the amusement park business. I look forward to some of these being addressed in the upcoming budget.