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GST isn't beneficial for Tollywood: Nag
By: Tupaki Desk | 24 May 2017 6:11 AM GMT
Centre levying 28% GST on Movie Tickets proved costly for Telugu Film Industry. Akkineni Nagarjuna expressed his displeasure over the new tax structure.
Nag: 'Until now, The Tax used to be 18%. But, Finance Minister Arun Jaitley proposed 28% tax on movie tickets now. The additional 10% will be huge burden to regional Industry. Whereas, Bollywood would get benefitted as it used to pay much higher taxes till now. We will soon meet the Government to discuss about the matter'.
Already, Tamil Film Industry appealed Union Government not to levy equal tax on Bollywood and Regional Industries. Producers Council-headed by Vishal sought Centre to take the market and previous tax structure into consideration while fixing GST.
Actually, Producers Guild proposed only 5% GST on Movie Tickets. However, Centre didn't take it into consideration and levied tax on par with betting and gambling.
Nag: 'Until now, The Tax used to be 18%. But, Finance Minister Arun Jaitley proposed 28% tax on movie tickets now. The additional 10% will be huge burden to regional Industry. Whereas, Bollywood would get benefitted as it used to pay much higher taxes till now. We will soon meet the Government to discuss about the matter'.
Already, Tamil Film Industry appealed Union Government not to levy equal tax on Bollywood and Regional Industries. Producers Council-headed by Vishal sought Centre to take the market and previous tax structure into consideration while fixing GST.
Actually, Producers Guild proposed only 5% GST on Movie Tickets. However, Centre didn't take it into consideration and levied tax on par with betting and gambling.
