SRK seeks removal of VAT on entertainment industry

MUMBAI:Shah Rukh Khan on Tuesday asked the Centre to remove Value Added Tax (VAT) and service tax on the entertainment industry and sought the conferment of de-facto industry status on it so that it can earn certain tax incentives.

It has become necessary to bring in entertainment industry under the "concurrent list" so that it can be governed by Central rules and enjoy tax concessions announced by the latter from time to time, Khan said in a statement.

At present, the entire entertainment and film industry comes under state governments jurisdiction as a result of which, it has not been able to enjoy the already conferred dejure industry status on it.

Shah Rukh Khan would release a study on the entertainment industry this evening highlighting the need for the removal of VAT and service tax.

The study is done by Associated Chambers of Commerce and Industry of India (Assocham).

Retaining the industry in the state government list deprives the tax concessions given by the Centre, Assocham said in its study.

Assocham has asked for the enactment of Optic Disc Law to combat piracy, as such a law has been introduced in Malaysia, Hong Kong and the results have been encouraging, it said.

The government has set up five groups on piracy, taxation and custom duties, exports of films, promotion, development and marketing for films.

As per the Finance Act of 2007, the Central Excise department has issued notices for recovery of service tax from the industry in cases of renting, leasing, letting immovable properties, Assocham pointed out.

As the film industry is burdened with various types of taxes and fee imposed by state governments, the Centre should exempt transactions between producers and distributors, Assocham said.

Times of India

SRK's last gift for Knight Riders

Now the recent speculation about a rift in the team-management angered Kolkata Knight Riders co-owner Shah Rukh Khan so much that he refused to attend any of Kolkata's home games, and had to be persuaded by the players to attend Sunday's match.

Shah Rukh, who was angry with the media for rumour-mongering, signed off by giving his team gold-plated helmets and promising their fans that the next season will be much better for his Knight Riders.

If Shoaib Akhtar or any of the Knight Riders were ever to be marooned on a deserted island, they'd certainly be able to entertain themselves with their new playstations, laptops, speakers and watches, all thanks to Shah Rukh Khan. And now, adding bling to that treasure are the 24 carat gold plated helmets for the entire team.

"The biggest prize that you can have for trying in life is this golden helmet so you can only desire this helmet if you deserve it and I don't think nobody deserves it more than all the young boys and all the men who have played for Knight Riders. I wish I could also have played and got one but lately I have not been allowed on to the field but I'll still try to make it," Shah Rukh said.

Shah Rukh's noble speech was followed by Shoaib's noble intention, which he announced later in the evening during the game against Kings XI Punjab.

"I'll give it to charity or to Mother Teresa. I'll put it on e-bay, collect lots and lots of money and then give it all to charity," the Pakistan pacer said.

So, SRK and his team are still one big happy family with the actor rubbishing reports of a rift with captain and coach. He was also quite categorical in saying that he's not about to abandon his team.

"I have told the children who've bought the Knight Riders t-shirt that in 6 months this t-shirt is going to be small for you but the t-shirt will never make you feel small ever and that can only happen if I stick to it with my passion and belief so all these talks are quite irrelevant."

Shah Rukh Khan signed off by saying that he will stay connected to the city and come back next year with his knights to give Kolkata more reason to cheer and this failed IPL script has made him even more hungry for success.

NDTV