IAAPI Advocates for a GST Reduction to Boost India's Amusement Sector

The Indian Association of Amusement Parks and Industries (IAAPI) has called on the Indian government to reduce the Goods and Services Tax (GST) on the amusement sector from 18% to 5%, arguing that such a cut is crucial for attracting investments and fostering industry growth.

IAAPI highlights the disparity in the current tax structure, noting that while zoos and museums enjoy a 0% tax, amusement parks bear a hefty 18%. The organization points out how other countries like the UAE and Canada have successfully embraced lower taxes to bolster leisure and tourism sectors.

Amusement parks play a vital role in promoting mental well-being, especially among schoolchildren, by providing spaces for joy and family bonding. The association emphasizes that reducing GST will create more jobs and lead to increased tourism, ultimately driving economic growth and improving India's Happiness Index.

(With inputs from agencies.)