GST tax reduced: Movie tickets to become cheaper

GST tax reduced: Movie tickets to become cheaper

The GST council had some good news for the film industry. All the cinema tickets above Rs 100 will now be taxed under 18% slab from 28%.  And the ticket prices below Rs 100 will be taxed at 12% instead of 18%.  This tax move has come down as a blessing in surprise for movie makers.  Top director, producer Karan Johar and leading Bollywood actor Aamir Khan have thanked PM Narendra Modi and Finance Minister Arun Jaitley for reduction in GST on cinema ticket prices.

In some relief to consumers across the nation, the GST council on Saturday declared a tax cut on 22 goods and services after a brief meeting in New Delhi today. The goods that are brought under 18% tax slab from 28% include monitors, television sets up to 32 inches, digital cameras, video camera recorders, lithium ion power banks, pulleys, transmission shafts, cranks, gear boxes, video game consoles and sports requisites.

However, the GST council did not lessen the tax rates on some high revenue items like cement and auto part items. The tax on parts and accessories for carriages for disabled have been reduced from 28% to 5% whereas the marble has been brought under 5% tax slab from 18%.

The tax rates on music books has been made nil from 12% and also, there is no tax on preserved and frozen vegetables.