March 17, 2012 : Commenting on the Union Budget, Mr Karan Johar, Co-chairman, FICCI Entertainment Committee said “We are really thrilled that the Service tax will now not be applicable on copyrights relating to recording of cinematograph films. This will provide a major relief to the M&E Industry. We are thankful to the finance minister and I&B Minister for accepting the industry demand to exempt service tax on copyrights relating to recording of cinematography films. While we have to read the fine print, this will cheer the industry as we celebrate 100 years of Indian cinema in 2013”.
