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.)

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