Bengal to refund share in GST on entertainment sector amid GSTN glitches
(3 months ago)
Kolkata, Feb 8 : With the delay in getting GST refunds due to glitches in GSTN, West Bengal government decided to refund the state's share of the indirect tax on the entertainment industry, state Finance Minister Amit Mitra told the assembly on Thursday.
Based on the estimation, the state has decided to give refund though people are finding difficulties to upload their returns as GST Network (GSTN) is "not working properly", he said.
The state government had waived the state's own share of tax in GST regime for movie tickets below Rs 100.
According to Mitra, the state's decision was to help the film industry which was reeling with dearth of working capital and suffering due the delay in getting refunds owing to GSTN problems.
In order to boost the real estate sector, particularly the housing segment, Mitra, in his recent budget speech, had proposed to reduce stamp duty fee by one per cent on the value of wealth worth Rs 40 lakh to Rs one crore.
Mitra, in the house, on Thursday said number land registration was expected to increase with the reduction in stamp duty rate and this would make up the shortfall in collection.