'Movie tickets costing more than Rs 100 have been brought down from 28 to 18 per cent,' Finance Minister Arun Jaitley announced on Saturday. Celebrities like Aamir Khan, Akshay Kumar and Ajay Devgn have hailed the move.
Cinema tickets are among services set to get cheaper as they have been removed from the highest 28 per cent bracket under the Goods and Services Tax (GST) regime. The decision came days after a meeting of members representing the Indian film industry with Prime Minister Narendra Modi to discuss issues plaguing the business.
"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," Siddharth Roy Kapur, President of Producers Guild, said in a statement. "We look forward to continuing to engage with the government on initiatives that will help to unleash the full potential of the film industry," he added.
Earlier this week, a delegation, including Karan Johar, Akshay, Bhushan Kumar, Kapur and Prasoon Joshi, met Modi in Mumbai. They pitched for lower and uniform rates of GST for the entertainment industry in India, apart from calling for the development of Mumbai as the global entertainment capital, through various initiatives and proactive approaches.
"Quick action and how! Within a few days of our meeting with honourable Prime Minister Narendra Modiji, the government addressed our concern...GST for movie tickets to be reduced. A welcome move for the industry and audiences as well," Akshay tweeted.
Quick action and how! Within a few days of our meeting with hon. Prime Minister @narendramodi ji, the Government addressed our concern...GST for movie tickets to be reduced. A welcome move for the industry and audiences as well.
Akshay Kumar (@akshaykumar) December 22, 2018
Aamir also took to Twitter to thank Modi and the government of India for considering the request of the film industry for reduction in GST. "If Indian cinema hopes to compete in the world market, then we need the support of the government and administration. This is a great first step in that direction," he wrote.
Heartfelt thank you to Honorable PM & the Govt of India for considering the request of the film industry for reduction in GST. If Indian cinema hopes to compete in the world market then we need the support of the Govt & Administration.
This is a great 1st step in that direction.
Aamir Khan (@aamir_khan) December 22, 2018
Producer Ritesh Sidhwani also thanked Modi for "your immediate action of reduction in GST on cinema tickets".
Thank you so much Shri. @narendramodi ji for your immediate action of reduction in GST on cinema tickets.. #financeministry pic.twitter.com/fzyXkQaEbW
Ritesh Sidhwani (@ritesh_sid) December 22, 2018
Ajay felt that the "voice of the film industry was finally heard and immediate action taken".
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
Central Board of Film Certification chief Prasoon Joshi thanked Modi for "hearing us out".
Signifcant decision #GSTCouncilMeet Good news for both cinema goers and #IndianFilmIndustry Movie tickets upto Rs. 100 which had 18% GST now brought down to 12% and the ones in the 28% slab will now be in 18% slab .Thank you PM @narendramodi for hearing us out last week .
Prasoon Joshi (@prasoonjoshi_) December 22, 2018
Actor Anupam Kher found the news to be "superb" for the Indian film industry and filmmaker Subhash Ghai thanked Modi for "such a swift action on our appeal".
Superb news for #IndianFilmIndustry. Cinema tickets upto Rs. 100 which were under 18% GST slab is brought down to 12% slab. Tickets above Rs. 100 were under the 28% slab. These tickets will now be under 18% slab. Thank you PM @narendramodi & officials for this great decision.??
Anupam Kher (@AnupamPKher) December 22, 2018
A BIG THANK YOU
@narendramodi @arunjaitley @Dev_Fadnavis
For such a swift action on our appeal
For
Reducing GST rates on Cinema in Two slabs - 12% and 18% for ticket price less than rs 100 n 100+
??Happy days are here again
for
INDIAN FILM INDUSTRY @MuktaA2Cinemas
?
Subhash Ghai (@SubhashGhai1) December 22, 2018
What do you think of this move?
by via Bollywood News and Gossip | Bollywood Movie Reviews, Songs and Videos | Bollywood Actress and Actors Updates | Bollywoodlife.com
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