Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: form 3cd :: TDS :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ACCOUNTING STANDARD :: VAT RATES :: ACCOUNTING STANDARDS :: due date for vat payment :: VAT Audit :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company
 
 
VAT (Value Added Tax) »
 Is it a modified Value Added Tax?
 GST regime: VAT Commissioner and CBEC to work with businesses
 Amendments in the Second Schedule appended to the Act (Delhi Value Added Tax Act, 2004)
 Guidelines relating to downloading of Statutory Forms-Modification thereof
  Grant of Registration under DVAT & CST
 VAT on petroleum products to continue, to be decided by GST Council
 Government rolls out settlement scheme to clear VAT, CST dues
 Maharashtra government offers VAT benefit to realty buyers
 Govt should focus on income tax instead of VAT
 Amendments in the second Schedule received from Finance Deptt.
 VAT exemption stays in tax reform bill

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 2017 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