Most of you would be rejoicing over the way the central government is chalking out strategies to weed out black money and reduce the burden of taxes on the common man. The latest in that happens to be the GST Bill which will create uniformity in taxes.
While this is certainly going to benefit the common man, it appears that the cinema folks are not too happy with it. Well, as per the latest GST norms, the Tollywood circuit is expected to pay a whopping 28% tax. Till now, they were paying only 18% tax.
This challenge is specifically for the regional circuits. Sources reveal the Tollywood biggies are already planning to approach the government for a revision because it will certainly hit the business in a big way. Let us wish some mutually beneficial solution works out.
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