GST Insight – Rishi Puri, VP, Lords Hotels & Resorts Reviewed by Momizat on . “Businesses or enterprises hold MICE events in different regions because those regions may be their markets or they may have some strategic tie-ups there. To ho “Businesses or enterprises hold MICE events in different regions because those regions may be their markets or they may have some strategic tie-ups there. To ho Rating: 0
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GST Insight – Rishi Puri, VP, Lords Hotels & Resorts

“Businesses or enterprises hold MICE events in different regions because those regions may be their markets or they may have some strategic tie-ups there. To host MICE or related events becomes necessary for such enterprises to conduct their business without having to operate from that particular region. In not being able to receive an Input Tax Credit (ITC) under the GST will act as a deterrent in conducting such a practice, which is directly bad for business. Not only is it bad business for one such enterprises, it is also bad for the hospitality industry. Lords Plaza, which is our brand of business hotels, has been receiving enquiries for hosting MICE and on realising that they won’t receive the ITC, in case where they are registered in a different state, they are not confirming it. We have lost on approximately 8% MICE bookings since the beginning of July. We have invested quite a lot in installing state of the art equipment and infrastructure for hosting MICE at our hotels. Losing potential business because of this ITC anomaly will translate into big losses for us. We feel that the Government may have overlooked this aspect while charting out the GST for hospitality. We hope that it is reconsidered and a provision be made so that all affected stakeholders continue to carry on conducting business as usual.”

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