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DNPA Urges Government to Exempt GST on E-Papers and Digital News Subscriptions

Leave a Comment / By / Governance Community

The Digital News Publishers Association (DNPA) has called on the Indian government to exempt Goods and Services Tax (GST) on e-papers and digital news subscriptions. The DNPA highlighted that while printed newspapers are exempt from GST, digital news subscriptions are currently taxed at 18% under the Integrated Goods and Services Tax (IGST) Act. They argue that news content, whether delivered via print or digital platforms, should be made accessible at affordable rates. The Information & Broadcasting (I&B) Ministry recently requested the Ministry of Finance to reconsider the GST rate for digital news subscriptions. In its appeal, the DNPA pointed out a previous instance where the GST Council reduced the tax on e-books from 18% to 5% in 2018, after recognizing the disparity between printed books (exempt from GST) and their electronic versions. The DNPA believes a similar approach should be applied to e-papers, advocating for either a significant reduction in GST or complete exemption. In a letter dated July 22, I&B Secretary Sanjay Jaju requested Revenue Secretary Sanjay Malhotra to either remove the GST on digital news subscriptions entirely or reduce it from 18% to 5%. Jaju’s letter noted that the higher GST rate could stifle the growth of the online news sector by pushing it towards an ad-based revenue model, which could compromise content quality and credibility through practices like clickbait and sensationalism. The letter emphasized that with the increasing internet penetration in India and the relatively nascent stage of the digital news industry, it is crucial to treat online news subscriptions similarly to printed newspapers and e-books for GST purposes. Jaju also noted that the revenue impact of reducing the GST rate on the Rs. 120 crore digital news subscription industry would be minimal, with an estimated revenue loss of around Rs. 21.6 crore. The DNPA’s appeal underlines the need for policy adjustments to support the growth of digital news and ensure that credible information remains accessible to the public as the media landscape continues to evolve. Source: Story board  

ZEE’s Restructuring and Strategic Shifts Post Sony-Merger Collapse: Punit Goenka’s Vision Unveiled

Leave a Comment / By / Human Resource Community

Zee Entertainment Enterprises (ZEEL) finds itself at a pivotal juncture following the collapse of its proposed $10 billion merger with Sony Group Corp. Amidst this new reality, the company, under the stewardship of MD and CEO Punit Goenka, has embarked on a journey of restructuring, strategic realignment, and operational optimization. In response to the termination of the merger, ZEE has taken proactive measures to navigate the evolving landscape. The company’s actions since January 22, 2024, underscore its commitment to charting a new course and fortifying its position in the industry. Legal Response and Financial Results: Following the merger termination, ZEE swiftly responded to Culver Max Entertainment Pvt’s notice, asserting compliance with MCA obligations and initiating legal action. Despite the setback, the company’s financial results for the December quarter of FY24 demonstrated resilience, with a notable surge in profits and income. However, sequential profit decline indicated the impact of the terminated merger deal on the cost structure. Strategic Vision of Punit Goenka: MD and CEO Punit Goenka outlined a strategic vision focused on leveraging technology and digital investments, enhancing productivity, and optimizing resources. Emphasizing frugality, quality content, and output, Goenka articulated a clear roadmap for achieving sustainable growth amidst challenging market conditions. Operational Changes and Leadership Reshuffle: ZEEL initiated operational changes, including the formation of independent committees to address misinformation and market rumors. Leadership reshuffle, marked by resignations and strategic realignment, aimed at building a cost-effective structure, optimizing resources, and maintaining a sharp focus on quality. The implementation of a Monthly Management Mentorship Program and workforce rationalization further underscored the company’s commitment to driving performance excellence. Streamlining Operations and Cost Reduction Measures: In line with Goenka’s strategic plan, ZEEL streamlined its technology and innovation center and announced a reduction in the MD’s remuneration. Additionally, workforce rationalization by 15 percent aimed to create a lean and focused team aligned with the company’s future goals. As ZEE navigates the aftermath of the failed merger, its proactive approach, guided by Punit Goenka’s strategic vision, reflects a commitment to resilience, innovation, and long-term success in the dynamic media landscape.

Kumar Chandan Anand, Founder and CEO of ArdorComm Media Group, Reflects on the Media Venture’s Journey and Aspires to Become the Largest Voice of Community Empowerment in India

Leave a Comment / By / Interviews

“We aspire to bring the community stakeholders on a common platform and open the doors for networking and collaboration. We want to emerge as the largest media voice of the community”, said Kumar Chandan Anand, Founder, CEO & Group Editor, ArdorComm Media Group at ‘ArdorComm New Normal- Education Leadership Summit & Awards 2023’ held in Pune, Maharashtra on 24th November 2023. ArdorComm Media Group has recently celebrated its 2nd Anniversary, you are spreading across India, tell us about your journey so far and how you’ve emerged as a growing media group? Our journey has been a challenging yet exhilarating rollercoaster ride. Through leaps and bounds, we’ve celebrated numerous successes as well as a few failures. I have enjoyed the journey of success & learned from failures. With 17-18 years of rich experience in the media industry, I then ventured into opening our own media start-up and named this organization ‘ArdorComm Media’. This was during the second wave of COVID, in a situation of uncertainty & challenges, we overcame hurdles and identified it as the opportune moment to commence our own Media Venture. We were connected with the stakeholders in the tech segment in the communities of healthcare, education, human resources, media, entertainment, art & in government sector. We tried to bring all the community stakeholders on a common platform and opened the doors for networking and collaboration. After having a good experience working with renowned media houses in the country and having exposure to regional dailies (vernaculars) & English newspapers, we thought to enter into the Digital space. The motto of our organization is to empower communities with socio-digital transformation. We want to become the Media voice for these 5 communities. As an overview how do you see this journey as a major achievement? Entrepreneurship will develop only when you have experience working in various companies, where you understand the hierarchy, the roles & responsibilities, and the responsibility of chasing targets & delivering them on time. How are you contributing to making your company happy, and your clients & stakeholders happy, that comes with a lot of experience & expertise. When your journey goes into that space & when you are very focused on what you have to become, then, you spend that time enthusiastically & willingly. I was very closely working with the editorial team, advertisement & sales team. So, I know both sides of the table. Also, readership plays a very crucial & important role and everything in today’s scenario is driven by content. If you publish fresh & new content, readers-listeners-viewers get engaged with you & they also motivate you to ask about your next content, blog, or story. Then you feel good about when they like your efforts & work. How do you see ArdorComm Media thriving in India in the upcoming years? As an entrepreneur, my vision for ArdorComm Media involves going deep into the segments, I want to go regional, exploring more cities, and more states. I aspire to invite stakeholders across various domains to our platform to share their experience & knowledge. The ultimate goal for ArdorComm Media is to emerge as the largest media voice of the community, playing a pivotal role in fostering collaboration, sharing knowledge, and contributing to the overall growth and development of the industry and society. We want to learn with them, we want to grow with them.