Specials

Budget 2015: Sops for entertainment sector; TV sets, computer tablets made cheaper

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/event-coverage/2015/02/28/Arun_Jaitley_4.jpg?itok=2Boh8osE

NEW DELHI: Perhaps because he is also holding the Information and Broadcasting portfolio, Finance Minister Arun Jaitley, on Saturday, announced certain concessions long sought for by the entertainment industry.

While presenting the Budget 2015-2016, Jaitley announced that exemption to services provided by a performing artist in folk or classical art form of music, dance, or theatre will be limited only to such cases where amount charged is up to Rs 1,00,000 per performance (except brand ambassador). 

He also announced exemption of service tax for service provided by way of exhibition of movie by the exhibitor/theatre owner to the distributor or association of persons consisting of exhibitor as one of its members.

However in a review of the Negative list, which specifies items are exempt, he said service tax will be levied on the service provided by way of access to amusement facility such as rides, bowling alleys, amusement arcades, water parks, theme parks, etc.

Service tax will also be levied on service by way of admission to entertainment event of concerts, non-recognized sporting events, pageants, music concerts and award functions, if the amount charged for admission is more than Rs 500.

At the same time, service by way of admission to exhibition of the cinematographic film, circus, dance, or theatrical performances including drama, ballets or recognized sporting events shall continue to be exempt from tax.

With an aim to get reduction in Basic Customs Duty in order to cut the cost of raw materials, Jaitley said high-density polyethylene (HDPE) for use in the manufacture of telecommunication grade optical fibre cables is being reduced from 7.5 per cent to Nil.

The customs duty on black Light Unit Module for use in the manufacture of LCD/LED TV panels from 10 per cent to Nil and on organic LED (OLED) TV panels from 10 per cent to Nil.

By way of reduction in duty on certain inputs to address the problem of duty inversion, he included parts and components of Digital Still Image Video Camera capable of recording video with minimum resolution of 800x600 pixels, at minimum 23 frames per second, for at least 30 minutes in a single sequence, using the maximum storage (including the expanded) capacity.

Basic Customs Duty on Digital Still Image Video Camera capable of recording video with minimum resolution of 800x600 pixels, at minimum 23 frames per second, for at least 30 minutes in a single sequence, using the maximum storage (including the expanded) capacity is being reduced to Nil. Basic Customs Duty on parts and components of these cameras is also being reduced from five per cent to Nil.

Excise duty structure on certain goods is being restructured on mobiles handsets, including cellular phones from one per cent without Central Value Added Tax (CENVAT) credit or six per cent with CENVAT credit to one per cent without CENVAT credit or 12.5 per cent with CENVAT credit. NCCD of one per cent on mobile handsets including cellular phones remains unchanged.

Excise duty on tablet computers is being restructured from 12 per cent to two per cent without CENVAT credit or 12.5 per cent with CENVAT credit.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/07/29/tv.jpg?itok=KnXdfCzb
Content Hub 2021: Television – A Twist in the Tale

At the fifth edition of the ‘Content Hub 2021 - TV, Film, Digital Video, and Beyond’ being organised by Indiantelevision.com, veteran producers from the media and entertainment industry delved into the state of television programming in the context of growing competition from OTT platforms.

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/07/29/ani.jpg?itok=VpnQUF3y
Content evolves, but the heart of storytelling remains the same: Boman Irani

Almost two decades after making his debut in the Hindi film industry, renowned actor Boman Irani is now all set to don the writer’s cap for his first movie as writer-director. “Writing is the way to go,” says Irani emphatically, as he begins to share his vision of filmmaking on the first day of the...

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/07/28/photogrid_plus_1627479541101.jpg?itok=LOQBSAi0
Content Hub 2021 : Insatiable demand opens up vast opportunities for content creators

New Delhi: The pandemic may have stalled theatrical releases of big budget movies, but people will throng cinema halls once the pandemic situation eases out, opined leading film, TV and OTT producers as they gathered to discuss the entertainment industry’s evolution at the fifth edition of the...

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/07/28/ch.jpg?itok=Zgn9BBAV
Content Hub 2021: Stage is set for the mega gathering of content creators

The stage is set for one of the biggest gatherings of content creators from across media platforms. The fifth edition of Indiantelevision.com’s biggest initiative- Content Hub 2021- ‘TV, Film, Digital Video, and Beyond’ begins on 28 July (Wednesday), 11 AM onwards.

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/07/26/ch.jpg?itok=M4k1HDCE
Fifth edition of Content Hub 2021 all set to get underway on 28 July

Change is the force of nature. More so, when it's catalysed by digital technology, that not only transforms the way we live, but alters the way we envision the world. The last few years have done exactly that, disrupting the world of media and entertainment and heralding a new era where content is...

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/17/david_beckham.jpg?itok=1KbuPdU6
David Beckham to talk Studio 99 during Digital MipTV keynote

Paris: Global sporting icon and legendary football player David Beckham will be the keynote speaker at the 58th edition of the Cannes TV market Digital MipTV. The event is all set to begin on 12 April and will be a virtual affair for the second consecutive year. The 2020 edition was also forced to...

Specials Event Coverage Miptv
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/13/img_13032021_113144_800_x_800_pixel.jpg?itok=bq1ddtk5
MIP Cancun sets date for physical event in November 2021

PARIS: Reed Midem has confirmed that MIP Cancun, the leading international content market and conference for Latin American and US Hispanic television, will take place as a physical event in 2021. The eighth edition of the signature one-to-one matchmaking market will take place at the Moon Palace...

Specials Event Coverage Occasions
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/09/ww100.jpg?itok=m83x7lXz
Wonder Women 100: Mindset needs to change first for more inclusion, diversity

Women are increasingly coming out and taking up more challenging roles against all odds. The media, entertainment and advertising industry is no exception. Despite the great strides made over recent years, there are still issues like fewer women leaders in upper management positions and salary gaps...

Specials Event Coverage Occasions
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/08/wonder.jpg?itok=z8diX8OO
The Wonder Women are here: Honouring 100 women leaders from M&E, ad & marketing

MUMBAI: Many a successful organisation in India's media, advertising, marketing and entertainment ecosphere have women leaders in key management and ownership positions. Where once women were assigned jobs related to programming or ad sales or media – and mostly at the middle management level –...

Specials Event Coverage Occasions

Sign up for our Newsletter

subscribe for latest stories

* indicates required