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Good news, cinephiles! Movie tickets to get cheaper

Cinema tickets up to ₹100 will attract 18 per cent Goods and Services Tax (GST)

Good news, cinephiles! Movie tickets to get cheaper

Cinemagoers now can rejoice as from January 1, 2019, movie tickets are going to get cheaper. Cinema tickets are among products and services set to get cheaper as they have been removed from the highest 28 per cent bracket under the Goods and Services Tax (GST) regime. The same was announced on December 22 by Finance Minister Arun Jaitley. The new tax rates have come into effect from January 1, 2019.

While the GST on third-party motor vehicle insurance has been cut from 18 to 12 per cent, cinema tickets up to ₹100 have also been granted a similar reduction. Movie tickets costing more than ₹100 has been brought down from 28 to 18 per cent.

A total of 17 items and six services have been reduced which will result in a revenue impact of ₹5,500 crore for the full fiscal, Jaitley said, briefing reporters after the 31st meeting of the Council.

Other than movie tickets, second-hand tyres, video games, monitors and television screens up to 32 inches, and lithium battery power banks will now attract 18 per cent GST.

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