Mumbai, September 4, 2006: Shringar Cinemas Limited, one of the leading movie exhibition and distribution companies, has announced today that the company has received entertainment tax exemption for its Fame Mutiplex situated at Kandivali, Mumbai and the said exemption will be availed by this multiplex with effect from today.
Under the entertainment tax exemption policy, the said multiplex will enjoy 100% exemption for the first three years and 75% exemption of the prescribed rate for the subsequent two years.
The entertainment tax paid by the said multiplex from 1 April, 2006 to 3 September, 2006 was Rs 1.48 crores.
Further, the sixth screen of the Fame multiplex at Surat, which is under a management contract with the company, consisting of 88 Gold Class seats (recliner) has commenced its operations on 3 September, 2006. With this, six screens consisting of 1840 seats are operational at Fame Surat multiplex.