Movies

Budget: Film industry wants CVD exemption on raw stock

NEW DELHI: The film industry, which had heaved a sigh of relief when the countervailing duty for unexposed colour films was abolished in 2002, is once again battling for a similar status since it was re-introduced in 2004.

Although the raw stock is imported, the CVD was imposed over two decades earlier since the Hindustan Photo Films sliced the jumbo rolls into smaller ones.


"CVD should be done away with since it was introduced to protect domestic manufacturers while raw film is imported," says Mukesh Bhatt.


Delegations of the film industry led by Film Federation of India President Jitendra Jain recently called on Finance Minister Pranab Mukherjee and Information and Broadcasting Minister Ambika Soni in separate meetings to press various demands relating to the budget, and said though unexposed negatives are not produced within the country, the industry has been paying CVD. Though this was removed in 2002, it was re-imposed in 2004 at the rate of 16 per cent.


While Soni told the delegation that she had already raised this issue with the Finance Minister, Mukherjee candidly told the delegation that he would listen to them patiently but could not make any commitment.



The industry is also seeking parity in taxation amongst all media, as it feels the government is encouraging new technologies by offering them tax concessions while ignoring the film industry which was the biggest foreign exchange earner and one of the largest employers in the country. Soni assured the industry that she has sought exemption from service tax to the film industry.



FFI Secretary General Supran Sen told indiantelevision.com that the industry was also seeking relief in Fringe Benefit Tax. The film industry has had to pay huge FBT in booking of hotels, travel and food even when traveling for professional work.



The government has also been requested to consider relief on remittances abroad under Section 195B of the Income Tax Act as these are for professional work or for hiring foreign technicians.



The industry wants advance tax and the interest levied under Section 234B and 234C to be made discretionary and not mandatory for the film industry as it often becomes difficult – particularly the months of December and January – since the profits from any film are subject to a high degree of uncertainty. .



Tax deducted at source for licensing of copyright varies between 10.3 to 11.33 per cent, which the film industry feels is very high particularly for regional cinema. The film delegation asked the Minister to consider regrouping TDS that is levied upon the industry.



Soni has supported the demand by the Ficci for a 10-year tax holiday for the emerging sectors such as gaming, animation and visual effects.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/16/judw2.jpg?itok=MoOLOx7y
Pre-Diwali period sees some flops

The pre-Diwali period saw a few flops. Judwaa2 saved the situation to some extent for the exhibition section providing relief with a considerable number of footfalls for a couple of weeks. Besides this, Newton was in news, a small film which got some favourable box office but more media hype as it...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/16/PVR.jpg?itok=aBQphPBl
PVR sub-brand in tier-III towns on anvil, engages fans with interactive card

NEW DELHI: Rs 21.8-billion multiplex chain PVR, which is aiming to touch 1000 screens by 2020 having crossed 600 recently, is likely to form another brand to tap tier-III towns. PVR sources confirmed to indiantelevision.com that the aim was to cater to every price category, and extend its reach to...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/16/Maiden_0.jpg?itok=p_6D8yMg
Maiden Indian film fest in Poland honours Koirala, Mittra

NEW DELHI: Wave Cinemas' CEO Rahul Mitra and actress Manisha Koirala were honoured with special awards at the first-ever Indian Film Festival in Poland (Warsaw). They also took part in the grand red carpet event at the iconic 'Kinoteka' theatre in the heart of Warsaw. A special audience of hundreds...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/10/judwa2_0.jpg?itok=OBtA8dpP
Judwa remake has an advantage over Chef

*Wrong time release and the film pays heavily. Much beyond its demerits. Pre-Diwali is the dullest period to release a new film but, even the best of production houses with years of standing still go ahead and do it. T Series released Chef in this dull period and, when asked, the explanation was...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/06/chef.jpg?itok=m6q0yYAq
Chef: Where is the audience?

Chef is a remake of 2014 Hollywood film of the same name, written, directed and co-produced by Jon Favreau, who also essayed the lead role.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/06/Baahubali%202.jpg?itok=fvJMACwW
Baahubali 2 to premiere on Sony Max on 8 Oct

MUMBAI: Sony MAX, a Hindi movies channel from Sony Pictures Networks, is  bringing the epic saga from the Kingdom of Mahishmati, Baahubali 2: The conclusion. Directed by the showman of southern India movies, S.S. Rajamouli, this extravagant heroic tale of Baahubali will be premiering on Sony MAX...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/04/Eros.jpg?itok=MIhHrrc2
Eros seeks to protect stakeholder interest, files case against US short-sellers

MUMBAI: Eros International Plc has filed a lawsuit in New York County Supreme Court against Mangrove Partners, Manuel P. Asensio, GeoInvesting, LLC, and numerous other individuals and entities.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/03/Judwaa_2.jpg?itok=N4IPTHg_
Judwaa 2 hopes to entertain

*Judwaa 2 came after a long gap that was filled by mediocre and non-entertaining films. There were no films in the last few months which could draw out the families from home to watch a film. Two weeks before Diwali was not the right time to release a film but, to counter that, there was also a...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/09/30/Judwaa_2.jpg?itok=RqiAwhEs
Judwaa 2….Rides on long weekend

Ideas are in short-supply. Shortcuts are the norm. And, as a producer of repute, if you are getting a package deal to make some quick money, why not?

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories