Rolling out on Jul 1, 2017, GST is an indirect tax applicable on the sale, transfer, barter, purchase, lease, or Import of Goods and Services while replacing all the former applicable taxes. While some are happy with this upcoming change and some are frowning over the excess duty, GST is payable online through gstindiaonline.com and applies to even creative fraternity including visual arts, performing arts, literature.
Artists who were exempted from paying VAT on their services will bear 12% on all of their artworks. Content writers who were previously paying 15% service tax will now be charged with an 18% GST, the basic exemption limit for them is Rs. 20 Lakh.
Entertainment Tax is completely abolished and now a GST is applicable as follows.
18% : Circus, Indian Classical Dance including Folk Dance, Theatre, Drama
28% : Cinema, Movie Festivals, Amusement Parks, Sporting Events like IPL, Casinos
Food Consumption at these events will attract 18% GST.
Effectively, if compared with previous VAT and Entertainment Tax regime, GST amount is lesses. To the end user this should not have any impact.
For various reasons everyone has got GST on their mind, and our cover page is evident of it.
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