GST Council has been meaning meet from several months. They have been waiting to discuss and take a decision about GST on Online Gaming and Horse Racing. Major amount of discussion has been about how they levy tax on Online Gaming. Will it be on full face value or profit from gaming or on platform fee has been major aspect of discussion. GST Council at their 50th meeting has decided about this aspect.
GST Council has held their meeting under Finance Minister Nirmala Sitharaman supervision. Finance Minsiters from State and Union Territories have attended the meeting. GST Council has decided to levy 28% GST on full face value on Online Gaming. Horse Racing and Casinos have also been brought under 28% GST.
Nirmala Sitharaman has announced the decisions of GST Council to the media. They have decided to exempt Cancer medication and food items imported for people suffering with rare diseases. Council has decided to decrease GST on Popcorn and food items sold at Cinema halls from 18% to 5%. GST Council has also decided to form Appellate Tribunals in coming months.
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