Service Tax Exempted on Copyrights Relating to Recording of Cinematographic Films

There is something to cheer about for the film industry in the Union Budget 2012-13. While presenting the Union Budget 2012-13 in LokSabha today, the Finance Minister ShriPranab Mukherjee said that the year 2012 marked the beginning of the Centenary year of Indian Cinema.

To add to the spirit of the celebration, he proposed to exempt the industry from Service Tax on copyrights relating to recording of cinematographic films.

Source : Equity Bulls

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