From 01 November 2019
Wonderla Holidays announced the Company planned to set up an amusement park in Chennai with an estimated cost of around Rs. 350 crores for which the land was already purchased. In view of the levy of Entertainment Tax of 10% by the Government of Tamil Nadu under Tamil Nadu Local Authorities Entertainment Tax Act, 2017, over and above GST of 18%, the project was put on hold for some time. Now the Government of Tamil Nadu has agreed to give exemption to the Company from levy of Entertainment Tax for a period of 5 years commencing from pt November 2019. Consequently the Company shall be commencing construction of the Chennai Project soon, subject to necessary Project approvals by the authorities.Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app