28% GST Likely On Casinos, Online Gaming, Race Course

The GST Council in its meeting this week is likely to vet a proposal of the panel of state finance ministers on levying 28 per cent GST on online gaming, casinos and horse racing, sources said.

GST Council Meet: Changes in GST rates on a handful of items likely and status quo in rates of over 215 items.

The government has extended the time for levy of GST compensation cess by nearly 4 years till March 31, 2026.

The GST Council in its meeting next week is likely to consider a proposal for making changes in the monthly tax payment form -- GSTR-3B, which would include auto-population of outward supplies from sales return and non-editable tax payment table, officials said.

The officers' committee on GST has suggested the GST Council defer a decision on the cryptocurrency and other virtual digital assets tax

To meet the shortfall in the GST compensation fund, the Centre has borrowed and released to states Rs 1.1 lakh crore in 2020-21

An Indian ministerial panel will meet next week to discuss a goods and services tax on cryptocurrency transactions, people with knowledge on the matter said.

Ministers' panel on rate rationalisation is likely to suggest withdrawal of exemptions given to hospitals with room rates more than Rs 5,000 per day

The GST Council, which consists of states finance ministers, is also expected to discuss certain simplifications in procedures

Several states are pressuring the ruling government to extend a program to continue compensation for losses from Goods and Services Tax (GST)or risk a stalemate in attempts to further simplify the structure

The panel of ministers on GST rate rationalisation is scheduled to meeton June 17to discuss possible tweaking in tax rates, sources said.

The Rajasthan Anti-Corruption Bureau on Tuesday arrested a Central Goods and Services Tax (CGST) officer in Bharatpur district with bribe money of Rs 4 lakh, according to an official statement.

Mr Subramanian, while reacting to RBIs outlook on inflation, expressed disappointment that though prices have been rising for almost three years, it was late in taking measures to check them, which showed "a certain loss of institutional independence"

As per reports, the GST Council could further cut GST on lithium-ion batteries down to 5% from the current 18%