Union Budget 2010 Impact on entertainment sector
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Entertainment industry is one of the biggest industries in India. But recently it has been undergoing major complexities in importing digital masters of its movies for replication loaded on a digital carrier in comparison with those traded in on cinematographic coating. This results in variations in the structure of customs tariff.
Keeping this in consideration, the Finance Minister in his Union budget 2010 speech proposed different measures which are expected to leave a colossal impact on entertainment sector of India.
Union Budget 2010 Impact on entertainment sector
The Finance Minister has proposed to charge custom tariff only on the cost of the medium of entertainment. The same allowance will be application to music industry and import of gaming software. In such cases the cost of relocation of intellectual rights would be charged under service tax laws.
Cable broadcast of infotainment is experiencing a major alteration with the implementation of digital technology. This calls for the multi-service operators to infuse in Digital Head End machinery. In an attempt to offer project import status to the multi-service operators, the FM has allotted a 5% concessional customs tariff with an entire tax exemption from extra tariffs to the introductory activities of such schemes.
Last updated on : 15-05-2011
Union Budget 2010 Impact on entertainment sector
The Finance Minister has proposed to charge custom tariff only on the cost of the medium of entertainment. The same allowance will be application to music industry and import of gaming software. In such cases the cost of relocation of intellectual rights would be charged under service tax laws.
Cable broadcast of infotainment is experiencing a major alteration with the implementation of digital technology. This calls for the multi-service operators to infuse in Digital Head End machinery. In an attempt to offer project import status to the multi-service operators, the FM has allotted a 5% concessional customs tariff with an entire tax exemption from extra tariffs to the introductory activities of such schemes.
Last updated on : 15-05-2011
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