Bihar Slashes ET By 60 Per Cent , Sops For Multiplexes/Modernisation

Bihar Slashes ET By 60 Per Cent , Sops For Multiplexes/Modernisation
- Abid Let us know what you think about this story

Call it the Prakash Jha effect or the preparatory step for the mission to hard-sell Bihar at the NRI meet in Hyderabd in the second week of Janury . The state government on Tuesday announced major concessions for setting up cinema halls and multiplexes in the state . It did not leave out the existing cinemas in the cold either .

In a bid to give the entertainment industry a boost in the state , the Cabinet gave its assent for a massive 60 per cent reduction in the ET (entertainment tax) on cinema tickets , said Cabinet Secretary A.K. Chauhan . The present rate of ET in the state is 110 percent .

Existing cinema halls would be given a two-year tax holiday if they invest Rs. 1 crore or more on modernisation . Those who go in for digital twin cinema systems with a minimum investment of 1.5 crores would be eligible for a three year tax exemption . Parties interested in setting up multiplexes have been offered a grand 5-year tax holiday if their total investment is 3 crore or more . The only rider is that the multiplex should have at least three screens/cinemas .

The credit for all the above listed initiative goes to director Prakash Jha ('Apaharan' & 'Gangaajal')and the new Chief Minister Nitish Kumar .

Latest News »

• Anuradha Paudwal receives the Maharashtra Gaurav Puraskar
• Prakash Jha confirms directing biopic on mathematician Dr Vashishtha Narayan Singh
• Call For Entries: Bay Area South Asian Film Festival 2018 San Francisco
• Sony Music acquires the music rights to Kizie Aur Manny
• Aditya Datt remembers grandfather Anand Bakshi on his birth anniversary with a heart-warming tweet

More News ...