Mumbai: The Film and Television Producers Guild of India on Monday welcomed the government's move to reduce the GST rate from 28 per cent to 18 per cent on movie tickets priced below Rs 100.
"The Indian film industry appreciates the move by the Honourable Finance Minister and the GST Council to consider the legitimate concerns of the industry, by revising the GST slab from 28 per cent to 18 per cent on cinema tickets priced below Rs. 100," Siddharth Roy Kapur, President of the Guild, said in a statement.
"We continue to believe that the Indian film sector deserves to be taxed at a much lower rate than this, to encourage further investment, employment and growth, which in turn will only lead to higher tax revenues for the government and a more vibrant cultural outreach from India to the rest of the world," Kapur added.
Last week, the Guild took up the film industry's concerns on GST and other issues during a meeting with Venkaiah Naidu, Minister of Information and Broadcasting, and Maharashtra Chief Minister Devendra Fadnavis, who had assured support.
Kapur, on behalf of the film industry, has also urged local bodies across all states to avoid imposing additional entertainment taxes at a local level.
"Unfortunately, the film industry continues to be one of the only sectors that even under a 'One Country, One Tax' GST regime, will still be subject to double taxation," he added.