sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« VAT (Value Added Tax) »
 Filing of online return for 4th quarter of 2017-18 extension of period thereof.
 No Cenvat credit admissible on outward transportation services from factory to buyer’s premises
  Filing of reconciliation return in form 9 for the year 2016-17
 Govt may send notice to 162 companies; ask for VAT returns
 Cenvat Credit Is Not Income Liable To Be Taxed
 Cos wanting to claim VAT refund on employees' foreign stay can get professional help
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part

Media and entertainment sector needs tax rationalisation: KPMG
March, 06th 2012

The media and entertainment sector needs simplification in cumbersome tax laws, management consulting firm KPMG has said.

"The industry hopes for simplification of the onerous tax laws and resolution of some of the long standing tax controversies impacting this sector. The levy of service tax and value added tax (VAT) on copyright acquired in content is a major pain point for the industry. Huge levy of entertainment tax in excess of 30 to 40 percent on film exhibition is another area of major concern," KPMG India partner Himanshi Parekh said.

On the broadcasting sector, he said the industry is plagued with a host of tax issues, the prominent ones being uncertainty surrounding tax deduction at source ( TDS) on several payments and higher withholding tax at 20 per cent in the absence of permanent account number (PAN), he said.

"Taxation of foreign telecasting companies ( FTCs) also continues to be a bone of contention between these companies and the tax office. Issues surrounding potential levy of service tax as well as VAT on activation charges and recharge coupon vouchers has been haunting the direct to home (DTH) television industry," he said.

He also said that advertisements in free-to-air mediums like radio should be treated differently and lower or zero service tax should apply for these.

"The radio industry also needs clarity in tax amortisation rules for intangibles like license fees paid by radio broadcasters which need to be amortised over the license period," he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions