Anupam Kher hails reduction in GST on movie tickets

Marcus Newton
December 24, 2018

However, 12 per cent GST is applicable on sale of under-construction property or ready to move in flats where completion certificate is not issued at the time of sale.

Earlier, emerging out of the GST council meeting, V Narayanasamy, Puducherry Chief Minister, told ANI that "the Goods and Services Tax (GST) Council on Saturday chose to cut rates of 33 items from 18 percent to 12 percent and 5 percent".

"The shift in items from higher tax slabs to lower tax slabs is the visible intent of the government to constantly reforming the taxation system to make it more and more simple", Talwar said.

"It is made a decision to retain sin (such as alcohol and tobacco) and luxury goods in 28% bracket", Jaitley told reporters. Cement's revenue is Rs 13,000 crore and automobile parts revenue is Rs 20,000 crore. "If they are brought down from 28 percent to 18 percent implications are of 33000 crore". "At the moment, the government is quite optimistic that we will be able to meet fiscal deficit target", he said after the GST Council meeting here.

These items now attract 28 per cent rate.

GST on movie tickets costing up to Rs 100 was cut to 12 percent from 18 percent, while tickets over Rs. 100 will attract 18 percent tax, against 28 percent earlier. Accessories for carriages for specially abled persons have been brought down to 5 per cent. Jaitley also said the Law Fitment Committee will take a view on GST on real estate on Sunday meeting as there is a consensus that something needs to be done on this.

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Sharing other important decisions taken by the GST Council today, FM Jaitley said, "There is no GST cut on cement and auto parts".

Total Gross GST revenue collected in November, 2018 is Rs 97,637 crore of which CGST is Rs 16,812 crore, SGST is Rs 23,070 crore, IGST is Rs 49,726 crore (including Rs 24,133 crore collected on imports) and Cess is Rs 8,031 crore (including Rs 842 crore collected on imports). The new rates are expected to come into effect from January 1, 2019. "One of the proposals before the Council is to lower the GST rate to 5 percent for builders who purchase 80 percent of inputs from registered dealers", an official said.

"All things related to common man will be 18 per cent or below that..."

"Recognising cement as a general public consumer product by the FM and reviewing it again in next meeting is keeping hopes alive. GST council and all the representatives of the country and the state will decide in the interest of the country rising above politics", he added.

The decision to slash the rates of movie tickets was welcome by film personalities. Cinema tickets upto Rs. 100 which were under 18% GST slab is brought down to 12% slab.

Other reports by MaliBehiribAe

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