MUMBAI: The Indian finance minister P Chidambaram has taken due cognizance of the issues raised by the Film & TV Producers’ Guild of India regarding central excise and has assured to look into the subject matter.
The Guild had sent a formal communication to the finance minister about the imposition of central excise on content creators and television boadcasting media through its television sub group chairman Dheeraj Kumar,
The Guild had apprised the finance minister regarding the budgetary changes made during the financial year 2007 – 08 whereby central excise duty exemption on recorded video cassettes pertaining to television broadcasting was withdrawn and central excise duty at eight per cent was imposed.
The Guild further stated that such imposition of Central Excise resulted in severe repercussions for the television industry necessitating immediate attention. The Guild also substantiated on the prompt compliance of the television industry with regard to service tax registration and consistent payment of the service tax liability thereby establishing that the imposition of service tax and central excise on a singular activity was absolutely unfeasible.