The products and providers tax (GST) Council on Tuesday agreed to a slew of proposals at its fiftieth assembly, together with slashing the tax on meals served in cinema halls and exempting the tax on the import of some life-saving medicine. The Council, comprised of state finance ministers and chaired by the Union finance minister, has determined to chop the tax on meals served in cinema halls to 5 per cent from 18 per cent, reported Dwell Mint.
Chatting with reporters in New Delhi, West Bengal finance minister Chandrima Bhattacharya mentioned the Council has authorized the exemption of GST on the import of most cancers drug Dinutuximab, and Meals for Particular Medical Functions (FSMP) used within the therapy of uncommon ailments.
She mentioned the Council has additionally agreed to levy a 28 per cent tax on on-line gaming, casinos and horse racing and the tax could be levied on full face worth.
“GST Council has determined that on-line gaming, casinos and horse racing can be taxed at 28 per cent at entry level on full face worth of bets,” she informed reporters.
Sudhir Mungantiwar, minister from the state of Maharashtra, mentioned the tax on on-line gaming corporations could be imposed with out making any differentiation based mostly on whether or not the video games required talent or have been based mostly on likelihood.
“Which means that GST can be relevant to gross income/whole prize pool,” Reuters quoted Roland Landers, CEO of The All India Gaming Federation, as saying. “We imagine this resolution by the GST Council is unconstitutional, irrational, and egregious.”
(That is breaking information. Please verify again for updates)
The RSS feed information web site offers information articles from varied sources for informational functions solely. The positioning doesn’t assure the accuracy, reliability, or completeness of the data offered. Customers ought to confirm info from different sources and use it at their very own threat. The positioning doesn’t endorse any explicit viewpoint or product talked about within the articles. Exterior hyperlinks offered are for comfort solely, and the location will not be chargeable for their content material. Through the use of this web site, customers conform to the above disclaimer.