Ever since Goods and Services Tax was introduced last year, theatre owners, producers, and the general public were lamenting about the increase in ticket prices in theatres.
Going by the GST law, the entertainment tax was announced as 28%. Due to this sudden increase, producers, theatre owners, distributors, and public were heavily affected by the price hike.
Today, the GST for entertainment has been brought down from 28% to 18 % for tickets above Rs 100. And for tickets prices below Rs 100, the GST has been brought down from 18% to 12%.
This is a welcome move by the government and a few producers have taken to Twitter to share their pleasure over the reduction in price.
This new move means the ticket prices will come down and become a little affordable for people. Also, this could also mean that the production costs might be lowered as well.