The well-known Bollywood superstar Amitabh Bachchan was recently slammed with a $131,500 Integrated Goods and Services Tax charge. This comes on the heels of his successful NFT sale, which fetched him $917k. Bachchan received a notice from the Directorate General of Goods and Services Tax Intelligence, which he swiftly paid. Nonetheless, an examination of the tax bill is presently underway.
The Integrated Products and Services Tax (IGST) is a standard 18 percent tax on interstate sales of products and services. This category, according to the government authority, includes the sale of NFTs.
Amitabh Bachchan has had a long and illustrious career in Hindi cinema. The 79-year-old superstar has worked as an actor, producer, TV personality, singer, and politician in the past. During the 1970s, he was almost THE MAN, ruling the Indian film industry and scooping awards left and right. He presently represents one of the major NFT players in the nation.
Amitabh’s BigB Punks NFT collection has 1,672 hand-drawn and randomly made NFTs. The Polygon Network is now selling the collection, which includes the iconic Bollywood actress. The NFTs have a wide range of qualities, including style, clothing, accessories, surroundings, and so on. The book essentially displays the actor in some of his most famous situations.
Apart from it, the Bollywood diva has other NFT collections, including Madhushala. Audio recordings of Amitabh’s father’s poetry are included in this compilation. Amitabh reads the poem aloud, expressing the authenticity and honesty of the feelings. There are just two 1 of 1 NFTs in this collection, both of which sold for more than $700,000.