GST rollout: Blackout in sales, moderation of discounts on first day - News Summed Up

GST rollout: Blackout in sales, moderation of discounts on first day


More From Livemint »“The blackout period in sales could vary from two days to a week depending on the manufacturer. Wherever the combined rate earlier was more than the 28% GST, tickets will become cheaper and where it was lower, movie tickets will get expensive. Punjab levied no entertainment tax earlier, UP levied 60% and Jharkhand 110%, according to ClearTax.com, a tax service provider. Many states have plans to let their local bodies to levy taxes on movie tickets. Earlier, under construction property used to attract 5-6% service tax and VAT which varied from 1-5% across states.


Source: Mint July 01, 2017 14:50 UTC



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