Bollywood has welcomed the exemption in service tax on copyright
granted by the Finance Minister in the Union Budget today.
Copyright relating to cinematography in film industry is exempted
from service tax, the finance minister announced in his speech on
Friday (March 16).
"The film industry is very much happy with the exemption in
service tax. It was gracious of them to consider our demand. We are
grateful to them and we have called off our strike," Mukesh Bhatt,
Vice-President, Film Producers Guild, told PTI.
"It is the best gift for the industry at the time of completing
100 years," he said. The film industry had threatened to go on
strike if there was no exemption in the service tax in the budget.
"It is a mind blowing thing. It is a huge victory for the film
industry," Director Anubhav Sinha said.
"It is a huge relief for the film industry. This shows that our
concerns were well understood by the Finance Minister," Filmmaker
Mahesh Bhatt said. Director Anees Bazmee, whose latest film
Ready starring Salman Khan was a runway hit, said, "It is
a good thing that they gave us the exemption." PTI KKP ABC.