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.
promotional
Apr 29, 2020
One of India’s most celebrated actors, Irrfan Khan known for his expressive eyes, died after succumbing to a long battle with cancer. He was 54. A gaping void has been left in the Indian film industry as one of India’s…
Apr 23, 2020
While the Globe is streaming free its second dramatic production Romeo and Juliet, today is 23rd April, the day William Shakespeare (1564-1616) is believed to have been born and died. One would seldom find a more spontaneous and intense expression…
May 29, 2019
Let’s know Shubigi Rao, who has recently been selected as the curator for the 2020 Kochi Muziris Biennale, for her “exceptional acumen and inventive sensibilities” The format of the art biennale to showcase contemporary visual art, across the world is modeled on…
May 24, 2019
In this piece 64 year old Dr Yatin Desai, shares with CY his inspiring story of how to scale towering mountains with utmost ease and how this life adventure activity can shape human character and health. Chances are high that…