| NEW
DELHI: The film industry wants abolition of customs/excise duty, countervailing
duty on import of broadcasting/post-production and animation equipment, set-top
boxes (STBs) and removal of octroi on raw stock and exemption of service tax on
duplication of prints to be removed on export sales. The Film and Television
Producers Guild of India is meeting information and broadcasting minister Priya
Ranjan Dasmunsi shortly to submit the Pre-Budget Memorandum highlighting issues
concerning the entertainment industry.
The demands will include
an increase in proportion of foreign direct investment in media from 26 per cent
to 74 per cent for Direct to Home (DTH). Subsidies and incentives will
be sought for boosting export of animation content being driven out of India on
the lines of tax benefits provided by Canadian Government for creating local animation
content. There is also a demand for creation of Special Export Zones
(SEZs) for the entertainment media to facilitate promotion of Indian exports content,
and widening the definition of industrial undertaking under Section 72A of the
Income Tax Act, 1961 to include electronic media (TV broadcasting). Another
demand is for reduction of the base for fringe benefit tax from 20 per cent to
5 per cent for the broadcasting industry, as in the case of computer software
industry and exemption for broadcasting industry from service tax as in the case
of print media. | 
