Cinematographic Film Not IT Software Under GST: Bombay HC Quashes Tax Demand On Karan Johar Firms
GST Council left its position unchanged in a taxation development.
· NDTV Profit
The Bombay High Court has held that a cinematographic film cannot be classified as information technology software under the GST law merely because it is delivered through a digital link or hard disk.
The analysis
This is a Tax / tariff / duty event. Duty and incentive changes reset landed cost and competitive position immediately, and unlike demand shifts they arrive on a known date.
Why it matters
- Tax changes flow through to post-tax earnings and can shift the relative appeal of entire asset classes.
- With GST Council involved, this carries a regulatory dimension that can outlast the immediate market reaction.