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GST Fraud Costs AMB Cinemas Rs 35.66 Lakh
By: Tupaki Desk | 22 Feb 2019 5:57 AM GMT
Mahesh Babu is known to be one of the very few stars with a clean image until recently. He, however, ended up making headlines for all the wrong reasons in the recent past. Firstly, Superstar was in news for non-payment of tax for brand endorsements during a certain period. And now, His newly built Multiplex was fined for violation of GST Norms.
GST Council reduced Tax on movie tickets costing over Rs 100 from 28 percent to 18 percent. At the same time, Movie Tickets costing Rs 100 or less were taxed at 12 percent from 18 percent. This new taxation came into effect from January 1st, 2019.
Unfortunately, AMB Cinemas continued to charge the Movie Goers as per the old tax rates in the year 2019. GST Officials came to know about the fraudulent practice of the multiplex during a recent inspection.
Following which, A showcause notice has been served to the management of the multiplex over violation of norms. Asian Sunil denied receiving any notices but informed that the news of GST Officials inspecting the multiplex was indeed true. He also expressed his willingness to pay any amount quoted by the GST Officials immediately.
As per the latest update, GST anti-profiteering wing of Ranga Reddy district imposed a fine of Rs 35.66 lakh (which was the additional amount charged from movie goers) on AMB Cinemas and the Multiplex Management paid it without any delay. This penalty amount has been transferred to the Consumer Welfare Fund.
GST Council reduced Tax on movie tickets costing over Rs 100 from 28 percent to 18 percent. At the same time, Movie Tickets costing Rs 100 or less were taxed at 12 percent from 18 percent. This new taxation came into effect from January 1st, 2019.
Unfortunately, AMB Cinemas continued to charge the Movie Goers as per the old tax rates in the year 2019. GST Officials came to know about the fraudulent practice of the multiplex during a recent inspection.
Following which, A showcause notice has been served to the management of the multiplex over violation of norms. Asian Sunil denied receiving any notices but informed that the news of GST Officials inspecting the multiplex was indeed true. He also expressed his willingness to pay any amount quoted by the GST Officials immediately.
As per the latest update, GST anti-profiteering wing of Ranga Reddy district imposed a fine of Rs 35.66 lakh (which was the additional amount charged from movie goers) on AMB Cinemas and the Multiplex Management paid it without any delay. This penalty amount has been transferred to the Consumer Welfare Fund.
