The corporation has also passed a verdict that states there will be no composition charge levied on Mumbai OOH owners until January 2021
After months of appeals and court hearings, Mumbai OOH owners finally receive clarity from MCGM (Municipal Corporation of Greater Mumbai) on a license fee waiver. MCGM has finally put forth a relaxation package for Mumbai OOH owners in the light of appeals made due to the ongoing COVID-19 pandemic market.
The document has been looked over by OOH Media owners and they have signed their approval for the same. An OOH media owner shared that the signature on the rebate package drafted by the MCGM signed by Media Owners and will become the official waiver document in the coming two weeks.
The MCGM, keeping the economic woes of the OOH industry in mind, has offered a reprieve to the OOH Owners with a complete licence fee waiver till June 2020. They have also passed a verdict stating that no composition fees will be levied till January 2021. For the next year, the increment in license fees has been reduced from 10% to 5%.
An OOH owner who was closely involved with the appeal for waiver of license fees remarked: “We have been awaiting a sigh of relief in these testing times for a while now. Our OOH industry has gone through deep agony and pain. While we have tried our best to cling to faith, hope and unity, that has got us through so far. We are grateful to MCGM for this great news. The OOH fraternity of Mumbai has been given a long-awaited sigh of relief for the economic difficulties endured.”