Live
- Sunny turns up the heat
- ‘Thandel’ first single ‘Bujji Thalli’ to drop soon
- ‘Thalapathi’ set for grand re-release on Rajinikanth’s 74th birthday
- Shahid Kapoor’s ‘Ashwatthama’ kept on hold due to budget constraints
- ‘Drinker Sai’ teaser: Attracts youth
- Netflix Outage in India and US Ahead of Tyson vs Paul Match
- Police Intensify Investigation into Lagacharla Attack on Officers; Eight More Detained
- Google Docs Introduces AI-Powered Clip Art Generator with Gemini
- LIC sets up stall at India Int’l Trade Fair
- Celebrating journalism and its role in society
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).
