Deepshikha Sikarwar NEW DELHI (Economic Times)
SLUMS can become skyscrapers but, doggone it, some things never change fast
enough. Like our laws, which clearly haven’t factored in India’s new topdog
role. And the latest victim of that could be AR Rahman, freshly annointed
the music king of Hollywood. While the two Oscars he won for Slumdog
Millionaire should be priceless, our eagle-eyed government officials have
found out that each gilt statuette is actually worth $500 — which makes the
second one liable to be charged customs duty!
This lacuna, with its huge embarrassment potential, however, has been
spotted in time by a fellow Tamilian, home minister P Chidambaram, given his
long innings in the finance ministry. He has promptly made a recommendation
to exempt Rahman from the outdated rule that allows Indians to bring a
paltry Rs 25,000 worth of duty-free baggage into the country. It is hoped
that Pranab Mukherjee, now handling the finance portfolio, already has his
officials working on a clarification. Jai Ho! But why should Rahman be in
this predicament at all?
Well, at $500, each Oscar is worth Rs 24,870 (taking $1= Rs 49.74),
which puts Rahman’s baggage at around Rs 25,000 above the permitted
duty-free allowance — presuming there are no other take-ways from this
historic event. Mr Chidambaram has thought of that too. *Rahman may have to
pay Rs 8,925 *
“IF the Oscars carry a cash award, I will recommend to the finance minister
that it should be exempt from taxation,” he said at the foundation stone
laying ceremony of Rajaswa Bhavan (where top tax officials will have
offices), at which Mr Mukherjee was also present.
But if things don’t move fast enough, Mr Rahman will have to pay customs
duty at the rate of 35.7% on the value of one Oscar, totalling Rs 8,925.
Admittedly that’s peanuts for the music maestro, but the government will
find it tough to explain the blanket application of an arcane law. More so,
since sportspersons who represent India at international fora are now given
duty exemption, like Sachin Tendulkar.
Regards,
Anantha the Dreamer
http://arrtheboss.blogspot.com
Vince Lombardi - "Winning is habit. Unfortunately, so is losing."
