The Information and Broadcasting (I&B) Ministry has urged the Finance Ministry to rationalise the duty structure for digital head-end equipment and set-top boxes, and sought a 10-year tax holiday for the animation, gaming and visual effects (VFX) industry.
The proposals, a part of Budget wish list of I&B Ministry were submitted to the Finance Minister, Mr Pranab Mukherjee on Wednesday. The I&B Ministry has also sought the inclusion of entertainment tax on broadcasting and cable sector in the proposed Goods and Services Tax (GST) regime.
Speaking to reporters after submitting the proposals, Ms Ambika Soni, Union Minister for I&B, said a ten-year tax holiday would help India emerge as an international hub for the animation and gaming and that there was a need to incentivise them.
The I&B ministry has suggested that the basic customs duty for the head-end equipment should be brought down to zero to give an impetus to the digitisation in the country.
Currently, the basic customs duty on digital head-end equipment varies from 7.5 per cent to 10 per cent.
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The proposals, a part of Budget wish list of I&B Ministry were submitted to the Finance Minister, Mr Pranab Mukherjee on Wednesday. The I&B Ministry has also sought the inclusion of entertainment tax on broadcasting and cable sector in the proposed Goods and Services Tax (GST) regime.
Speaking to reporters after submitting the proposals, Ms Ambika Soni, Union Minister for I&B, said a ten-year tax holiday would help India emerge as an international hub for the animation and gaming and that there was a need to incentivise them.
The I&B ministry has suggested that the basic customs duty for the head-end equipment should be brought down to zero to give an impetus to the digitisation in the country.
Currently, the basic customs duty on digital head-end equipment varies from 7.5 per cent to 10 per cent.
read more........
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