New Delhi: Many important decisions were taken in the 50th meeting of the GST Council in New Delhi. As the biggest decision among these, the GST Council approved the imposition of a 28% tax on online gaming, horse riding, and casinos. Earlier the tax rate on these was 18 percent. At the same time, the recommendation to reduce GST on the bill for food and beverages in the cinema hall was also approved. Now 5% GST will be imposed on them instead of 18%. Union Finance Minister Nirmala Sitharaman gave information about all these decisions in the press conference.
Apart from this, while giving great relief to patients suffering from cancer, the government said that IGST will not be levied on imported cancer medicines. GST on uncooked snacks has been reduced from 18% to 5%.
28% GST decision on online gaming is important
For a long time, the GST Council was discussing online gaming. This time the council has decided to impose a 28% tax on online gaming. The council has decided to impose 28 percent GST on online gaming with some modifications. It has been agreed to levy 28% GST on horse racing, and casinos. GST Council has not made any distinction between skill-based games and chance-based games.
Decisions based on the recommendation of the Group of Ministers
The panel, headed by the Union Finance Minister and having representatives from all states and union territories, took the decision based on the recommendation of a Group of Ministers to consider levying GST on casinos, horse riding, and online gaming.
Cars will be expensive
The Union Finance Minister has approved the imposition of a 22 percent cess on Multi Utility Vehicles in the GST Council. However, sedan cars have not been included in this. The Finance Minister said the GST Council has exempted GST on satellite launch services by private operators.
In this meeting, the GST Council approved the formation of the GST Tribunal of the Fitment Committee. With this step, disputes related to GST will be resolved at the earliest. Maharashtra has demanded the setting up of 7 Appellate Tribunals in the state.