Prasads Imax faces GST body action for ticket pricing.

Anti-profiteering measures have been initiated by the Hyderabad GST Commissionerate on the theatres and multiplexes which have not reduced the ticket prices from Januray 1, 2019. M Srinivas, Principal Commissioner informed that some multiplexes have reduced the rates but some did not.

The GST reduction decision was taken during the GST Council’s 31st meeting held on December 22, 2018. Under which GST was reduced for movie tickets from 28% to 18% for tickets priced more than Rs.100 and from 18% to 12% for tickets priced Rs.100 and less.

Hyderabad GST Commissionerate officials verified sample tickets from Inox at GVK One mall and PVR at Punjagutta. The prices were reduced as per the decision. However Prasads Imax ticket prices were not reduced, the prices remained Rs 150 for screen 1-5 and Rs 250 for screen 6. Under section 171 of the CGST Act 2017, Anti-profiteering measures were initiated against Prasads Imax.

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