PRODUCER GUILD ON REDUCTION IN GST ON CINEMA TICKETS BRINGS CHEER TO FILM INDUSTRY.

PRODUCER GUILD ON REDUCTION IN GST ON CINEMA TICKETS BRINGS CHEER TO FILM INDUSTRY.
Siddharth Roy Kapur
The Film Industry wholeheartedly welcomes the decision to reduce GST on Cinema tickets, exceeding Rs. 100 to 18% from 28% and up to Rs. 100 to 12% from 18%. Siddharth Roy Kapur, President of Producers Guild of India states “On behalf of the Indian film industry, I would like to thank the government for taking this progressive step. 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. Cinema can be a significant instrument of Indian soft power around the world, while continuing to act as a uniting force for all Indians – a role it has played for more than a century”
In the past one year since Goods and Services Tax (‘GST’) implementation, the Film Industry was grappling with changes, challenges and issues arising post implementation of the GST legislation.
This was majorly due to cinema tickets placed in the highest tax slab wherein cinema tickets whose price exceeds INR 100 were subject to GST @ 28% while those whose price is up to INR 100 are subject to GST @18%. Such high GST rates resulted in high ticket prices for cinema goers.
The Film Industry truly appreciates the continued endeavours of the GST Council, The Central and State Governments towards resolving issues faced by the stakeholders in the smooth functioning of GST
Issued by
Producers Guild of India
[email protected]