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.
Clearance awaited from Town & Country Planning dept: Wonderla Holidays on Chennai project Wonderla Holidays Ltd Chairman M Ramachandran said, "we have to renegotiate the exemption period in view of the delay in construction work due to (COVID-19 enforced) lockdown". The Chennai project was the company's major planned investment which would be the fourth such facility for the group.
Amusement park operator Wonderla Holidays enters food delivery business to beat pandemic blues Arun Chittilappilly, director of Wonderla Holidays, said, “All of us have been locked down and economic activity has come to a near standstill. Our parks and resort chains have been affected across locations due to this turmoil. In these difficult times, we decided to step into the new business venture.”