A presumptive taxation regime is proposed for overseas entities operating cruise ships in Indian waters. It proposed to exempt from tax their income from renting ships to a related firm that operates cruise services in India.
Cruise tourism has drastically expanded over the pre-pandemic period recording a new high, with footfall touching 4.7 lakh in 2023-24. International cruise ships have been calling at ports in Mumbai, Goa, New Mangaluru, and Kochi all along the cruise tourism season.
Last month Minister Sarbananda Sonowal had announced Rs 45,000 crore for the development of river cruise tourism in the country. Of this, an estimated Rs 35,000 crore has been earmarked for cruise vessels and another Rs 10,000 crore for cruise terminal infrastructure by end of 2047.
