Speed Post News Network

New Delhi : The GST rate on cinema tickets above Rs 100 shall be reduced from 28% to 18% and on cinema tickets up to Rs 100 from 18% to 12%. A decision to this effect was taken by the GST Council, at its 31st meeting held on December 22, 2018, in New Delhi. GST rate on third party insurance premium of goods carrying vehicles shall be reduced from 18% to 12% while services rendered by banks to Basic Saving Bank Deposit (BSBD) account holders under Pradhan Mantri Jan DhanYojana (PMJDY) shall be exempted.

Air travel of pilgrims by non-scheduled/charter operations, for religious pilgrimage facilitated by the Government of India under bilateral arrangements shall attract the same rate of GST as applicable to similar flights in Economy class (i.e. 5% with ITC of input services).The same would be given effect to through Gazette notifications/ circulars which shall have force of lawaccording to a PIB release.

One thought on “GST rate of cinema tickets above Rs 100 reduced to 18 % from 28 %”

Leave a Reply

Your email address will not be published. Required fields are marked *