On Tuesday Shahrukh Khan asked the centre to remove VAT and ST on the entertainment industry. He said he would release a study on the entertainment industry this evening highlighting the need for the removal. The study is done by Associated Chambers of Commerce and Industry of India (ASSOCHAM).
At present, the entire entertainment and film industry comes under state governments jurisdiction as a result of which, it has not been able to enjoy the already conferred dejure industry status on it.
It has become necessary to bring in 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, Khan said in a statement. As the film industry is burdened with various types of taxes and fee imposed by state governments, the Centre should exempt transactions between producers and distributors, Assocham said.
Assocham has also asked for the enactment of Optic Disc Law to combat piracy, as such a law has been introduced in Malaysia, Hong Kong and the results have been encouraging, it said.
[…] Khan has asked for removal of VAT on entertainment industry. This is on a based on a study conducted by Associated Chambers of Commerce and Industry of India […]