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New Delhi
Shah Rukh wants entertainment industry on Concurrent List
Shah Rukh Khan
MUMBAI: Bollywood super star Shah Rukh Khan on Tuesday asked the Government to bring the entertainment industry on the Concurrent List of the Constitution so that it can be governed by Central rules and enjoy tax concessions.
He also sought removal of value added tax (VAT) and service tax imposed at present on the entertainment industry and conferment of de facto industry status.
At present, the entire entertainment industry comes under State Government jurisdiction as a result of which it has not been able to enjoy the already conferred de jure industry status on it.
Shah Rukh Khan would release a study on the entertainment industry highlighting the need for removal of VAT and service tax.
The study, “The Entertainment & Media Hub”, has been done by Associated Chambers of Commerce and Industry of India (Assocham).
Retaining the industry in the State Government list deprives it of the tax concessions given by the Centre, Assocham said in its study.
According to the Assocham study, the media and entertainment sector would cross a turnover of Rs.1 lakh crore by 2011-12 from Rs.44,000 crore now.
The turnover of the television industry would grow by 22 per cent to Rs.51,900 crore by 2011-12 from Rs.19,100 crore, it said.
The turnover in the television industry would largely be driven by subscription revenue than advertisement revenue, the study added. -- PTI
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