WOW: MOVIE TICKET PRICE SLASHED DOWN - GREAT NEWS FOR CINEMA LOVERS!

The Goods and Services Tax (GST) Council held an important meeting earlier this morning (December 22) where the tax rates were announced to be reduced for a selective section of products and streams. The tax rates were reportedly slashed for 23 items. Out of those, the GST tax rates were reduced from 28 percent to 18 percent for 6 items such as video games, retreated tyres, sporting equipment, Televisions, and also movie tickets. It was revealed that the movie tickets will be charged with 18% tax, which will come in effect from January 1, 2019.
 

GST for movie ticket rates below Rs 100 has been reduced from 18% to 12%, while ticket rates above Rs 100 will have a GST of 18%, reduced from its earlier rate of 28%. In simpler terms, movie tickets that cost below Rs 100 will have 12% GST, while tickets above Rs 100 will have a GST of 18%. With this reduction in the GST tax rates for movie tickets, the overall ticket price will come down.

As for Tamil Nadu, the maximum base price for a film was set at Rs 207, including the ticket price, GST, and Local Body Entertainment Tax, and excluding the internet charges. Now, with this reduction in the GST tax rate, the new maximum base price will be Rs 191 (excl. internet booking charges). If the Local Body (TN State Govt tax) tax is removed, the base ticket price will reduce to Rs 177.

Nikhilesh Surya, Executive Director of Rohini Silver Screens confirmed this news with his tweet, "The New maximum ticket price for Tamil movies in TN has now reduced from 207.36 Rs to 191.16 Rs. #Petta and #Viswasam will be screened at this pricing for the opening week. Thanks to the govt for this decision 🙏👍 Hope the state Govt removes LBET and reduces price to 177 Rs."

Likewise, Rakesh Gowthaman, Managing Director of Vettri Theatres shared the revised ticket prices at his complex. He tweeted, "Once this change is implemented our regular ticket prices will be changed as follows - Balcony - Rs. 160/- reduced to Rs. 150/-   Gold - Rs. 118/- reduced to Rs. 110/-"

This new ticket prices will come in effect from January 1, 2019. This reduction in the GST rates and the ticket rates has come as a relief for all the movie buffs.

*tweets are not spell-checked