In what can be called as a minor relief to the consumers in the nation, the GST (Goods and Services Tax) council 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, gear boxes, video game consoles, sports requisites and other items.
The GST council also had some great cheer for the movie lovers and film industry. All the cinema tickets above Rs 100 will have been brought under 18% slab from the existing 28%, whereas the ticket prices below Rs 100 will now be taxed at 12% instead of 18%. This tax move has come down as superb news for all the movie makers in the country. The Producers Guild of India also welcomed this move by GoI.
Top director, producer Karan Johar, Bollywood actors Aamir Khan, Ranveer Singh, Arjun Kapoor, Anupham Kher and others have thanked Prime Minister Narendra Modi, Finance Minister Arun Jaitley and Government of India for reduction in GST rates on cinema ticket prices.
The tax rates on music books has been made Nil from the current 12% and also, there is no tax on preserved and frozen vegetables.