Goods and Service Tax will be applicable all through the nation, starting from tomorrow, July 1. All sectors in India will be affected by this move. GST attempts to eliminate multiple taxes for every sector and brings about only one tax for everything. It is more like, "One country, one tax."
There is very little doubt that GST will not affect film industry. Apparently, the changes that GST brings about will pose a whole new problem is what people are speculating now.
Firstly, the cost of tickets will rise for sure. Starting from the production of cinema to its exhibition in theatres, taxes have to be paid. Amidst all this headache, stars and celebrities will have to suffer a little more, especially the ones who receive in Crores together will have to cough up a hefty amount as tax from now on.
Here is a list of all the stars and celebrities who will be affected the worst from GST. Read on..
Crores Of Rupees As Tax
There are a lot of actors and actresses in Kannada film industry who receive remuneration for films starting from a few Lakhs to a few Crores as well. According to GST rules, celebrities who earn more have to pay up more taxes.
What Is The Tax For Lakhpatis?
According to GST rules, actors/actresses having an annual income of below 20 Lakh rupees will not be eligible for taxes. At the same time, for the celebrities earning more than 20 Lakhs per annum, they have to pay up a tax of 18% of their annual income.
What Is The Tax For Crorepatis?
Actors/actresses who get more than 1 Crore per annum should pay a tax of 18% of their annual income. For those who take more than 3 Crores per year, then they are entitled to submit a tax of 54 Lakh rupees.
What About Those Who Get 5 Crores And Above?
For the artistes getting 4 Crores per annum, they have to pay a tax of 72 Lakhs and for those who get 5 Crores as remuneration, they need to cough up a mind-boggling 90 Lakhs!
Some Top Actors In Kannada
Darshan Thoogudeep, Puneeth Rajkumar, Sudeep, Yash, Shivarajkumar, Upendra, Ganesh and a few others take very high remuneration for their movies.