Covid-19 impact: Hoteliers seek Modi's help on loan deferment, GST holiday

Industry body writes to PM seeking protection of Cibil scores, deferment of advance tax, EPF and ESIC

Fearing huge financial burden owing to cancellation of conferences as well as marriage and banquet bookings to stave off coronavirus (COVID-19) spread, the hotel industry has asked for deferment of bank loans and statutory dues. Besides, they have sought GST (goods and services tax) holiday till the besieged industry hits the revival route. 

“Most of the hotel owners have taken loans from banks and in the current situation, it seems difficult for us to pay interest and bank EMIs (Equated Monthly Instalments). Banks should be advised to consider the situation and cooperate with us and defer the EMIs and interest till