Hindi
Film industry welcomes duty rationalisation on raw stock, decries service tax on copyright
MUMBAI: The film industry is disappointed with the 2010-2011 Budget for ignoring most of their demands. The one exception, though, is the rationalisation in the customs duty structure for import of raw stock by charging customs duty only on the carrier medium to remove the differential rates between importing digital masters of films and cinematograph film.
Says Motion Picture Dist Association (India) Managing Director Rajiv Dalal “ We are pleased with the Finance Ministry‘s decision to address the film industry‘s concerns over customs taxation on the import of DVD Masters. Charging customs duties on DVD Masters based on carrier medium instead of transactional value will allow for greater importation transparency as well as increased foreign direct investment into the Indian film and television sector.”
Explains Shemaroo Entertainment Director Hiren Gada, “Earlier Customs duty used to be charged on intellectual property (DVD and Beta formats) imported from abroad on the carriage medium. But with the FM’s decision to rationalize the customs duty structure on the carriage medium, importing films from overseas would get cheaper. By this Hollywood would be the biggest beneficiary.”
The Budget also seeks to imply service tax on IPR copyright film and music. “Earlier, only VAT was imposed on the copyright (film) because the government had said that copyright was a product. Now, you cannot subject service tax on a product on which we pay VAT,” questions Gada.
“This would mean that the industry will have to shell out 10 per cent of its revenue by way of tax. As it is, the film industry is reeling under high entertainment tax and growing piracy. Producers are furious and I am sure in the coming week, there is bound to be a serious reaction to this step of the government,” adds Gada.
Laments producer Harry Baweja, “As it is there is a considerable drop in the production of films and if the government sticks to its proposal of charging service tax, production is bound to go down considerably.”
Hindi
Hansa Entertainment launched to produce across OTT, TV and film
New venture from R K Swamy Hansa Group eyes multi-language stories for digital-first audiences.
MUMBAI: Hansa Entertainment has just stepped into the spotlight because when a legacy media house decides to script its next act, even the credits get excited. Hansa Entertainment Private Limited has been incorporated to develop and produce original programming across digital, television, OTT platforms and theatrical features. The company will create short-running series, long-running series and original films for OTT, alongside standout theatrical ventures. It will also launch a podcast platform called Hansa Spotlight and produce content for the fast-growing vertical drama format. Stories are initially planned in Hindi, Tamil, Telugu, Malayalam, Bengali and Kannada.
The venture is founded by Sruti Swamy and Siddharth Swamy, drawing on the rich legacy of Hansa Vision and the broader R K Swamy Hansa Group. Sruti brings creative expertise with a master’s in architecture, interiors and design from Milan and a postgraduate degree in business management from the Indian School of Business. Siddharth contributes a data-driven perspective, having studied data science at Imperial College London.
Sujatha Narayanan has been appointed CEO of Hansa Entertainment. With over two decades of experience in creative content curation and production across film and OTT, she is also a well-known film columnist and media entrepreneur.
R K Swamy Hansa Group executive chairman Srinivasan Swamy said, “The launch of Hansa Entertainment marks an exciting new chapter. The new entity is the brainchild of the next generation and will be independently managed by Sruti Swamy, who is the Director and the newly appointed CEO.”
Hansa Entertainment director Sruti Swamy added, “I am very optimistic about the future of Hansa Entertainment, given the content explosion and the opportunities offered by new technologies for production.”
Hansa Entertainment director Siddharth Swamy noted, “The idea is to grow a contemporary production house that creates compelling stories for today’s multi-platform audiences while drawing inspiration from the rich storytelling traditions that audiences have appreciated over the years.”
Hansa Entertainment CEO Sujatha Narayanan said, “Hansa Entertainment will evolve as a story-first, IP-driven entity. We have already put together a smart team of interesting and dynamic creators who will helm our vertical dramas, shows and films.”
In the ever-evolving world of Indian entertainment, where stories now travel faster than the scripts that birth them, Hansa Entertainment is stepping onto the stage with fresh ink and big ambitions proving that even the best legacies know when it’s time for a compelling sequel.
