The producers’ association has written a letter to Sitharaman seeking repeal of GST on film industry

The producers’ association has written a letter to Sitharaman seeking repeal of GST on film industry

The producers’ association has written a letter to Sitharaman seeking repeal of GST on film industry

The Indian Motion Picture Producers Association (IMPPA) on Wednesday wrote a letter to Finance Minister Nirmala Sitharaman urging him to repeal or “reduce” the GST on the film and entertainment industry to help revive the sector.

In a letter to FM, the association urged Sitharaman to consider the “pain and suffering” the industry is going through due to the “extreme taxation and 18 per cent GST”.

The IMPPA claims that GST (goods and services tax) is levied at extremely high rates, especially when it is an industry where the government does not make any investment but “takes away the lion’s share of the income generated”.

“Therefore, in an industry where the entire capital is contributed by the entrepreneurs and at a stage where the industry is crippled today, new blood and energy needs to be pumped … GST and all other taxes abolished as a one-time solution to revive the industry. By, ”read the letter.

The association, which has about 6,000 members, said the government had offered “massive tax rebates and subsidies” to a number of multiplexes and exhibition outlets, which relied solely on ticket sales and struggled to keep the cinema hall closed due to the epidemic.

“It simply came to our notice then.

“So if the industry is to survive, it needs films, and the government must take immediate steps to eliminate or significantly reduce the GST on the M&E industry.”

Coronavirus-induced nationwide lockdowns closed cinemas across the country for most of 2020.

The second wave of epidemics earlier this year began in phases in the exhibition area.

The letter, signed by IMPPA president TP Agarwal, said that while producers were still facing severe financial crisis, the central and state governments were earning “huge revenue from various taxes imposed on almost all levels of film production”.

“By repealing the GST on the film and entertainment industries, it is time for the government to provide immediate financial and entertainment relief to the poor citizens of the country.

“Or reduce it to at least five per cent in a completely uniform manner across the country, which would be very appreciated for the industry,” it said.

(Only the title and image of this report may have been recreated by Business staff; the rest of the content is automatically generated from the syndicated feed.)

mail Dear reader,

Business always strives to provide up-to-date information and comment on events that are of interest to you and have broad political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offer has further strengthened our resolve and commitment to these ideals. Even in these difficult times caused by Covid-19, we are committed to keeping you informed and up-to-date with credible news, official views and relevant comments.
However, we have a request.

As we fight the economic effects of the epidemic, we need your further support so that we can continue to offer you more quality content. Our subscription model has received an enthusiastic response from many of you who have subscribed to our online content. More subscriptions to our online content can help you achieve your goal of offering better and more relevant content. We believe in free, fair and credible Blog. Your support through more subscriptions can help us practice the Blog for which we are committed.

Support quality Blog and Subscribe to Business.

Digital editor



IThis is an unedited and autogenerated supporting article of a syndicated news feed. To provide genuine or authentic news only intended to inform and update you about Electric Vehicles, Affiliate & Blog products, investment tips updates etc. We do our best to modify or edit original content by NixaTube team members to make you better and more reliable. But if you want to read this article from the original source of the article then you can read from here.

Rate this post


Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar

My Cart Close (×)

Your cart is empty
Browse Shop