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The Film Theaters in Hyderabad finally relented and cut down the prices of the film tickets in accordance with the recent GST cut. They have slashed the ticket rates following a warning from officials of the anti-profiteering wing of Hyderabad GST commissionarate. Rates of royal or recliner or VIP or premium or gold seats have been reduced from Rs 250 to Rs 230 and normal or executive ticket price has been cut from Rs 150 to Rs 138. While many theater chains cut the prices from January, Prasads Multiplex followed them last cutting down the prices from Friday.
Some of the theatre owners have agreed to calculate the excess money charged since January 1 and decided to repay it to the consumer relief fund of the anti-profiteering wing. After the Tax Cut, Tickets which have the Base Price over 100 Rupees are currently in the Highest GST Slab of 28% and are now brought into 18% Slab. The Tickets which Below 100 Rupees are also going to cost lesser going forward. They are brought into the 12% GST Slab from the current 18% Slab.