After Kamal Haasan, Boney Kapoor speaks on new GST rate: Hoping it’ll be a boon than a debating point
On Friday, Tamil star Kamal Haasan said he would have to quit the film if the new tax on goods and services is not reduced by at least half, triggered a debate over its effect on India’s entertainment industry. The GST or tax on goods and services to be launched next month and aims to replace a deep-rooted network of central and state taxes for a single fee. For the film industry, taxes on entertainment and services will be replaced by a single slab of 28 percent.
Entertainment and other taxes vary in different parts of India. In Hindi movies, 28 percent is a drop in the current rate in cities like Mumbai. The argument is that regional films Haasan, Bollywood and Hollywood films can not be placed on the same slab. He added that this rate will ruin regional films.
Today, at the launch of the new MOM production, producer Boney Kapoor was invited to give his opinion on the new tariff. Huesudo, who has produced films for 20 years and is named after hits such as Mr India, Pukar, location, banned passage and having need, admitted that the 28 percent tax slab would affect producers of regional industries and Bollywood . He added that several associations of filmmakers spoke to the respective finance ministers of the state to discuss their implementation.
“The producers’ bodies will certainly be affected, whether Mumbai or Chennai, Hyderabad, Bengal.” All producer associations talk to the ministers of finance of their respective states, and I hope that this would be a constructive move and we must look at it. Positive aspect of this situation and, hopefully, this action would be the great help instead of a point of discussion for us, “said bony.
Also present at the launch of the trailer MOM was their main cast, including Sridevi and Nawazuddin Siddiqui. When Nawaz asked about the effect of the GST, he joked, “This is a very technical issue that I do not know how the taxes are deducted.” The GST, India’s largest tax review is expected to begin on July 1. A small list of goods will be exempt from taxes, while the rest will be taxed at rates approved 5, 12, 18 and 28 percent.