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
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