Zee Entertainment Enterprises : DishTV achieves over 65 Lakh unique e-payment transactions until 23rd Nov' 2016 inspite of demonetization of currency notes!

DishTV achieves over 65 Lakh unique e-payment transactions until 23rd Nov' 2016 inspite of demonetization of currency notes!

Since inception, DishTV has been doing business through e-payment modes. The company is in sync with the Government's demonetization of Rs.500 and Rs.1000 notes and cashless economy has witnessed:

• Over 65 Lakh unique transactions through electronic payment mode until close of 23rd Nov' 2016.
• The Service Tax component on the above transaction of approximately Rs.2600 lakh. DishTV has incurred a collection cost of 4% on the Service Tax component as well.
• The Service Tax is apart from State Entertainment Tax and discriminatory License Fee levied by MIB on DTH operators, other distribution platform are not subject to license fee.
• The industry is looking forward to any possible incentive that may be under consideration by the Central Government on e-payment transactions.

As per industry estimates Rs. 25000 crores of turnover escapes tax compliance in Cable TV services which results in loss of Direct and Indirect Taxes to the tune of Rs. 8000 crores to exchequer on annual basis. Demonetization, timely implementation of Digitization and rollout of GST will bring in much needed transparency and ensure a level playing field.