The country's amusement park industry, whose combined turnover is expected to touch Rs 6,000 crore in 2020, has urged the union finance ministry for a single digit GST levy. "We have written to finance ministry officials for a single digit GST levy on the amusement park industry," Ajay Sarin, president of Indian Association of Amusement Parks and Industries (IAAPI) told PTI. There are nearly 480 amusement parks in the country, the prominent being Adlabs Imagica, Esselworld, Nicco Park and Wonderla. He said in the present taxation regime the industry is subject to entertainment tax and service tax. According to him, the tax rates in other Asian countries like Malaysia, Thailand, Singapore, China and Japan were well below 10%.

Source: dna February 19, 2017 05:13 UTC