GST council reduces tax on cinema tickets; Producers Guild of India calls it 'progressive step'
The Producers Guild of India has hailed the decision of government to reduce GST on cinema tickets as a "progressive step" which will help the industry "move forward positively".
According to a statement, the Guild is happy with the reduction of GST on film tickets, exceeding Rs 100 to 18 percent from 28 percent and up to Rs 100 to 12 percent from 18 percent.
Reduction in GST on cinema tickets: Producers Guild of India welcomes the decision pic.twitter.com/ytA76Y6hOB
— taran adarsh (@taran_adarsh) December 22, 2018
"This will help the industry move forward positively with increased investments in both exhibition infrastructure and creative development, enabling even better cinema and greater screen density across the country. "We look forward to continuing to engage with the government on initiatives that will help to unleash the full potential of the film industry," Siddharth Roy Kapur, President of Producers Guild of India said in a statement. Ajay Devgn, too, tweeted about the same, thanking Narendra Modi for the move:
The voice of the film industry was finally heard and immediate action taken, thanks to @narendramodi ji. For movie tickets priced below Rs. 100 the tax has been reduced from 18% to 12% now and for tickets priced above Rs. 100 the tax has been reduced from 28% to 18% now. — Ajay Devgn (@ajaydevgn) December 22, 2018
The move comes after a delegation from the film industry, including Kapur, met Prime Minister Narendra Modi and discussed several issues the industry faces. However, the delegation came under fire after a number of people, including actress Dia Mirza, questioned the absence of female representation on the panel.
(With inputs from Press Trust of India)
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Updated Date: Dec 22, 2018 17:29:09 IST