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: due date for vat payment :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: VAT Audit :: cpt :: list of goods taxed at 4% :: TDS :: articles on VAT and GST in India :: ACCOUNTING STANDARD
« Service Tax »
 Service tax officials transferred for favouring realtor
 GST, a challenge and opportunity for accounting professionals’
 Service Tax On Hotels And Restaurants – Recent Delhi High Court Judgment
 GST Council discusses 4-tier tax rate, cess on demerit goods
 Why you shouldn’t miss these three simple tax saving options beyond Section 80C
 Determination of value for transactions between the Related parties under GST Laws.
 Higher collections can offset GST losses
 GST to subsume over a dozen Central, State taxes
 Incidence of indirect taxes won't go up under GST
 Advanced Budget date: Absence of a GST rate may present estimation challenges
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant

Shah Rukh Khan Calls For No VAT And ST For The Entertainment Industry
May, 31st 2008

Bollywood's global superstar, Shah Rukh Khan has asked the central government to remove the Value Added Tax (VAT) and Service Tax (ST) on the entertainment industry and sought the conferment of de-facto industry status.

SRK said that it is imperative to bring the entertainment industry under the "Concurrent List" so that it can be governed by Central rules and enjoy tax concessions announced by the latter from time to time.

At present, the entire entertainment and film industry comes under State Government's jurisdiction because of which, it is unable to enjoy the dejure industry status conferred on it.

Khan later released a study on the entertainment industry, highlighting the need for the removal of VAT and ST.

The study has been done by the Associated Chambers of Commerce and Industry of India (Assocham). In the study Assocham said, "Retaining the industry in the State List deprives the tax concessions given by the Centre." Assocham has also called for the enactment of the Optic Disc Law to combat piracy. Such a law has been introduced in Malaysia and Hong Kong and the results have been encouraging.

The Government has set up five groups on piracy, taxation and custom duties, exports of films, promotion, development and marketing for films.

The Central Excise department under the Finance Act of 2007 has issued notices for the recovery of Service Tax from the industry in cases of renting, leasing and letting out immovable properties.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

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