The administration's proposition to control Bitcoin digital currency has started an administrative turf war amongst Securities and Exchange Board of India (Sebi) and Reserve Bank of India (RBI). As per sources, the national bank is of the feeling that bitcoin is a security as opposed to money and ought to be controlled by Sebi. The proposition has not run down well with the last which contradicts the recommendation. A week ago, the back service required a meeting of all partners to talk about the administrative system of the virtual money.
The Goods and Services Tax (GST) is expected to be positive for multiplexes. The Goods and Services Tax (GST) is expected to be positive for multiplexes. This is primarily owing to the input tax credit (ITC) expected on the fixed costs that a multiplex incurs like rental, CAM, electricity, etc., says an ICRA note. GST has been fixed at the rate of 28% for tickets priced over Rs. 100 and 18% for tickets priced less than Rs. 100 for the movie exhibition industry. Though it is higher than the industry’s expectation of a standard rate of 18%, thereby toning down the previously expected positive impact on the industry’s margins, on a net level, the impact still is expected to be positive. According to Mr. Shubham Jain, Vice President and Sector Head, ICRA “The new simplified GST for the multiplex industry will facilitate players to conduct their business. So far, the industry has been operating under differential tax regimes across states. Overall, we expect the impact of GST to be po
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