Nation Current Affairs 28 Dec 2018 Mahesh Babu's bank a ...

Mahesh Babu's bank accounts seized for skipping GST

DECCAN CHRONICLE.
Published Dec 28, 2018, 12:34 am IST
Updated Dec 28, 2018, 12:34 am IST
The accounts were seized to retrieve tax of  Rs 73.5 lakh which includes the interest and penalty.
Mahesh Babu
 Mahesh Babu

Hyderabad: Hyderabad’s Goods & Service Tax (GST) Commissionerate has attached two bank accounts of Tollywood actor G. Mahesh Babu for failing to pay service tax of Rs 18.5 lakh for the financial year 2007-08. The accounts were seized to retrieve tax of  Rs 73.5 lakh which includes the interest and penalty.

The actor, recently seen in Bharat Ane Nenu, has reportedly not paid GST on services provided by him as brand ambassador/appearance money and advertising for promotion of products. The total tax due from him was Rs 18.5 lakh.

 

On Thursday, the authorities of GST department attached his bank account in Axis Bank and ICICI Bank for an amount of Rs 73.5 lakh which includes tax, interest and penalty.

The Central Board of Direct Taxes (CBDT) regards actors, cameramen, directors/assistant directors, music directors/assistant music directors, art directors/assistant art directors as professionals.

As per Notification No. 12, services by an artiste performing folk or classical art forms of music, dance or theatre is not charged GST, if the consideration charged for such performance is not more than Rs 1,50,000. 

 

For other forms of art or where consideration exceeds Rs 1,50,000, Central GST and State GST/UTGST are charged at 9 per cent each (aggregating to 18 per cent) and IGST rate is 18 per cent. 

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