Focusing on attracting more and more tourism units in Maharashtra, Govt announced its new Maharashtra tourism policy 2024 on 18th July 2024. Chairman of COSIA Vidarbha & leading tourism incentives consultant CA Julfesh Shah said that announcing 20% cash subsidy (maximum limit 20 crores) on the the total eligible project cost of the tourism units like hotels,motels
resorts etc across whole Of Maharashtra is a master stroke which will boost up the investment significantly in tourism sector in Maharashtra.In the previous policy which commenced from the year 2016 till this new policy came ,cash incentives were missing.Similarly for Service Apartments,Tourist vilas,Cruise board,Food Kiosks or Food Courts at Tourist destination,Theme parks,Water Parks,Adventure Parks,Golf Course etc cash subsidy will be granted @15% of the eligible capital investment subject to a maximum limit of Rs 15 Crores.CA Shah further said that according to area location & investment criteria the tourism units will be classified for availing other fiscal incentives.In Vidarbha maximum fiscal benefits can be availed by the tourism units viz refund of 100% SGST paid ,Interest subvention on term loan upto Rs 50 lakhs,Electricity Duty Exemption, Electricity Tariff Refund,Sustainability initiatives incentives etc.The policy will prove to be a game changer & will evolve as a popular policy amongst all the states of India as it has taken care of all the aspects of the stakeholders & will generate large amount of direct & indirect employment & bring up significant amount of investment in Maharashtra,said CA Julfesh Shah.
