GST: A big relief to the Movie Industry

New Delhi, December 23: In what can be a relief to film industry and movie buffs, the Modi government has slashed the Goods and Services tax on movie tickets.

According to the council’s latest decision, GST levied on cinema tickets above 100 will be reduced from the existing 28 percent to 18 percent and on tickets below 100 will be reduced from 18 to 12. These rates will come into effect from January 1st 2019.

It is worth mentioning that, This decision by government has come as a big cheer to film industry as it will benefit both filmmakers and audience. The producers guild of India has thanked the government for this progressive step which will give a big boost to the industry. Recently, a delegation of film industry met Narendra Modi and discussed several issues that have been plaguing the industry. Government has rightly paid heed to the recommendations and reduced the GST.

As the GST is reduced, it is now up to the theatre owners to take decision on slashing the ticket rates.