Friday, March 13, 2015

B unnikrishnan blasts the govt decision to impose vat on copyright transfer

B. Unnikrishnan blasts the Govt. decision to impose VAT on copyright transfer. Director B. Unnikrishnan has come down heavily on the Govt. decision to impose VAT on copyright transfer of films considering it akin to sales rather than service. According to him the new decision will further accentuate the crisis in Malayalam cinema. He said that it is almost double taxation as the producers are already shelling out service tax of 14 percent during the transfer of satellite rights. Unnikrishnan says that only one channel gives this service tax while the rest turn a blind eye. With the new decision a producer will have to give 19 percent by way of tax. This is highly retrograde and objectionable. He sums up by expressing hope that the Govt. would see reason and rescind its decision in the interest of Malayalam film industry.



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