The two-day Goods and Service Tax (GST) Council meeting concluded on the 29th of June, Wednesday, in Chandigarh.
The 47th GST Council Meeting was headed by Ms. Nirmala Sitharaman, the Finance Minister of India. During the meeting, the GST Panel discussed various decisions and recommendations, with the panel members.
After the meeting, Union FM Ms. Nirmala Sithraman announced that the proposal to levy 28% GST on online gaming, horse racing, and the lottery has been deferred as of now. She further added that the decision on this would be taken after the Group of Ministers (GoM,) headed by Mr. Conrad Sangam, the Chief Minister of Meghalaya, would submit a report, after consultation with the stakeholders. The GoM has been asked to re-deliberate the tax rate on horse racing, online gaming, and casinos and submit a report by the 15th of July. The report will be discussed by the GST Council at its next meeting. The GST Council will meet again on this GoM’s agenda in 1st week of August.
Besides, the decision over the taxes on fantasy plays, the GST Council discussed several other recommendations.
Meanwhile, the next GST Council meeting is scheduled to be held in Madurai, at the invitation of the Tamil Nadu Finance Ministry.
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