Taxes on entertainment, cable, DTH to come down under GST
The Dollar Business Bureau The government said on Tuesday that taxes on entertainment, Direct-To-Home (DTH) and cable services would come down in the new Goods and Services Tax (GST) as 'entertainment tax' that is imposed by the states has been included in the GST regime. The services offered through admission to cinematography films or entertainment events in cinema halls will be imposed with a rate of 28% under GST effective from July 1, the Finance Ministry said in a statement. Presently, the states levy entertainment tax of up to 100% with regard to exhibition of films in cinema halls/theatres. The entertainment tax has now been subsumed under the GST, and therefore only the taxes imposed by a municipality or panchayat on amusements and entertainments will stay. “Entertainment ...
Roadmap for GST laws
Ranjeet Mahtani & Sweta Rajan The Central Government is in the process of vetting the drafts of the Model GST laws. The game plan is for the revision of the drafts to conclude during the next meeting of the Goods and Services Tax Council on February 18, 2017, to ensure that they can be tabled before the Parliament in the second leg of the Budget Session commencing on March 9, 2017. GST Rates The classification of goods across the 5-tier rate slabs (0%, 5%, 12%, 18% and 28%) is expected to be decided in May-June, 2017. Meanwhile, the Revenue Secretary has indicated that the applicable tax slab can be estimated based on a simplistic formula – the rate slab closest to the existing ...
ISRO to build a satellite for SAARC region
Source: PIB, Government of India Indian Space Research Organisation (ISRO) is planning to provide space-based systems for South Asian Association for Regional Cooperation member nations. It is proposed to build a satellite for SAARC region with 12 Ku-band transponders and launch using Indian Geostationary Launch Vehicle GSLV Mk-II. A one-day conference on “Satellite for SAARC Region and Space Technology Applications” was organized by India in New Delhi on June 22, 2015 to appraise and discuss the proposal. Delegations from all the SAARC member nations have participated in the conference. The response of all the SAARC nations to the proposal has been encouraging. Pakistan while welcoming the initiative raised some queries on technical and operational aspects. Pakistan desired further discussions before ...
