Live
- AI can analyse retinal images for cardiovascular risk
- Kate Winslet aims to spend the year achieving 50 remarkable things
- Shilpa Shetty emphasises strength over sacrifice for women
- Leaders expect job displacement from AI
- The growing importance of life skills education
- Inclusive policies essential for reducing poverty gap for people with disabilities: Dr Sophie Mitra
- Hindu Activists Face Legal Action For Alleged Communal Remarks In Shamli
- Bigg Boss Tamil Season 8: Meet the Contestants and Explore the New House Theme
- iOS 18.1 Release Date: Apple Intelligence Arriving Soon for iPhone Users
- ED Raids AAP MP Sanjeev Arora's Home In Land Fraud Case
GHMC to lose 60 cr yearly due to GST
The Greater Hyderabad Municipal Corporation will lose a major chunk of revenue to the tune of Rs 60 crore with the implementation of Goods and Service Tax (GST) from next financial year.
Hyderabad: The Greater Hyderabad Municipal Corporation will lose a major chunk of revenue to the tune of Rs 60 crore with the implementation of Goods and Service Tax (GST) from next financial year.
The GHMC will be deprived of entertainment tax. The GST will replace 16 current levies — seven Central taxes like excise duty and service tax and nine State taxes like VAT and entertainment.
According to GHMC official, the Commercial Taxes Department has been collecting the entertainment tax from city theatres and remitting 90 per cent of it to the GHMC.
As the State government has decided to adopt GST from July 1, the GHMC will lose Rs 45 crore for three quarters for the current financial year (2017-18) and Rs 60 crore from the next financial year (2018-19).
