PVR at Juhu gets entertainment tax exemption

Mumbai, June 14 (UNI) Premier Theatres PVR Limited's multiplex at Juhu, in Mumbai comprising of five screens with 1250 seats, has been granted exemption from the payment of entertainment tax.

The exemption granted under the provisions of Bombay Entertainment Duty Act, 1923, for a period of five years with effect from June 13, PVR said in a communication to the Bombay Stock Exchange (BSE) today.

The exemption available to the multiplex for the first three years is 100 per cent for the fourth and fifth year, the exemption available is 75 per cent of the entertainment tax.

The current entertainment tax on the cinema ticket is 45 per cent of the admission price. The exemption from the payment of entertainment tax shall directly contribute in strengthening the bottom line of the company, the statement added.

UNI