Bollywood delegates meet up with the PM Narendra Modi resulted in changes in GST rates on cinema tickets. Now the tickets will be cheaper for the movie lovers as the GST on ticket prices up to INR 100 has been reduced to 12% from 18% and above INR 100, to 18% from 28%.
A media release issued by the Producers Guild of India has all the figures and appreciation for GST council, The Central and State government for making the desired changes.
Siddharth Roy Kapur, president of the Producers Guild of India, on behalf of Indian film industry thanked the government for this progressive step, in the press release. The whole industry welcomed the decision with the whole heart.
Biz analyst Taran Adarsh took to Twitter and posted the photo of the media release, captioning, “Reduction in GST on cinema tickets: Producers Guild of India welcomes the decision.”
Reduction in GST on cinema tickets: Producers Guild of India welcomes the decision pic.twitter.com/ytA76Y6hOB
— taran adarsh (@taran_adarsh) December 22, 2018
Three days ago, Bollywood delegates, including Akshay Kumar, Ajay Devgn, Karan Johar, Ritesh Sidhwani, and Siddharth Roy Kapur visited Prime Minister Narendra Modi, at Raj Bhavan when he was on a one-day visit to Maharashtra. They talked to length about the problems and issues, the film industry faces every day.
According to a statement issued by PIB, “The team from the film fraternity gave an overview of the vast growth potential of the media and entertainment industry. They also pitched for lower and uniform rates of GST for the entertainment industry in India.”
PM Modi assured the film fraternity that the Union Government is supportive of the media and entertainment industry and it would consider the suggestions positively.