Fight for lower GST: Smriti Irani joins Bollywood bandwagon
| Nov 8, 2017, 10:40 IST
After reeling under 28 percent GST levied on film tickets for about four months now, many from the Hindi film industry have united for a fight for lower taxation. The Film & Television Producers Guild of India approached I&B minister Smriti Irani with their concern as also to assist them and the minister was prompt with her reply.
The minister promptly wrote a letter to Finance Minister Arun Jaitley on Monday wherein she drew attention on how the "current tax regime will negatively impact further investments in cinema production and exhibition sectors". She further even urged the Arjun Jaitley to examine the issue that is affecting the film industry and has requested to bring it up in the next GST Council meeting.
Among many, Siddharth Roy Kapur, president of The Film & Television Producers Guild of India stated that the exorbitant rate of taxation will lead to lower investment in the industry as also the loss of employment for cinema workers and a steady decline in the cinema-going habit amongst audiences. Producer Mukesh Bhatt is also enraged that the entertainment industry has been slotted in the same tax bracket as liquor and gambling and has said that it will greatly impact the production of movies.
Former CBFC chairperson Pahlaj Nihalani and trade analyst Atul Mohan too feel that if the tax is brought down from 28 to 18 percent, it would encourage a better working environment. We're eager to know what the Finance Minister's response will be now. Stay tuned for more updates on the matter.
The minister promptly wrote a letter to Finance Minister Arun Jaitley on Monday wherein she drew attention on how the "current tax regime will negatively impact further investments in cinema production and exhibition sectors". She further even urged the Arjun Jaitley to examine the issue that is affecting the film industry and has requested to bring it up in the next GST Council meeting.
Among many, Siddharth Roy Kapur, president of The Film & Television Producers Guild of India stated that the exorbitant rate of taxation will lead to lower investment in the industry as also the loss of employment for cinema workers and a steady decline in the cinema-going habit amongst audiences. Producer Mukesh Bhatt is also enraged that the entertainment industry has been slotted in the same tax bracket as liquor and gambling and has said that it will greatly impact the production of movies.
Former CBFC chairperson Pahlaj Nihalani and trade analyst Atul Mohan too feel that if the tax is brought down from 28 to 18 percent, it would encourage a better working environment. We're eager to know what the Finance Minister's response will be now. Stay tuned for more updates on the matter.