Hotels stocks rally 4-15% after govt cuts corporate tax, GST rates The Council approved a cut in tax rates on rooms with a tariff of Rs 7,500 and above to 18 percent and those with tariff below Rs 7,500 to 12 percent. GST on room tariff below Rs 1,000 has been scrapped.
Hotel stocks rally amid proposed GST rate cut from 28% to 18% Hotel stocks rallied up to 12 percent intraday on Wednesday after GST rate fitment committee proposed to cut tax from 28 percent to 18 percent on hotel tariff of Rs 7,500 and above.
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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