Over the past couple of months, all the regional film industries across the country have been expressing severe concern over the soon to be implemented Goods and Services Tax (GST). Under the newly announced GST, the Entertainment Tax has been set to 28%.
But after the 16th GST council revise meeting that was held today, Finance Minister Arun Jaitley has given a huge relief to the industry players and moviegoers. The minister has announced a decrease in the GST for movie tickets that cost less than Rs.100 to 18%, while a GST of 28% will be levied on tickets above Rs.100.
The Finance Minister also said that the state governments that offer tax exemption can refund the GST through the DBT (Direct Benefit Transfer), since there will be no centralised exemption from July 1.
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