28% GST On Casinos, Race Course, Online Gaming: Panel Of Ministers' Final Report

The panel of ministers tasked to review the GST levy on casinos, race courses and online gaming has finalised its report, which will be taken up in the upcoming GST Council meeting.

"Virtual Digital Assets (VDAs)...not akin to gambling or lottery as being made out," said Aritra Sarkhel, Director for Public Policy at WazirX, on the government mulling a 28 per cent GST on cryptos.

The Congress on Saturday demanded that the Centre extend the GST compensation period for three years, asserting that the states' fiscal position is fragile as never before and this needs urgent remedial measures.

Indian tax authorities are exploring the implementation of a 28 percent goods and services tax (GST) on all cryptocurrency transactions, adding to a 30 percent tax on profits from crypto-asset trading that kicked in on April 1.

The central tax devolution is likely to rise to Rs 9.3 lakh crore in 2022-23 from Rs 8.8 lakh crore in 2021-22

Goods and service tax (GST) revenues in April touched the highest ever level of about Rs 1.68 lakh crore, up 20 per cent from the year-ago period

Senior Congress leader P Chidambaram on Thursday took a dig at the Centre over the Rs 78,704 crore it owes to the states in GST compensation, saying it would be interesting to know why the Finance Ministry "embarrassed" Prime Minister Narendra Modi b

The GST Council has not sought views from states on hiking tax rates, sources said on Sunday.

Central Board of Indirect Taxes and Customs (CBIC) has proposed mandatory scrutiny of Goods and Service Tax (GST) returns on a quarterly basis

Central Board of Indirect Taxes and Customs (CBIC) issued duty drawback and GST refunds of Rs 1.75 lakh crore to exporters in 2021-22

A group comprising ministers from states is yet to finalise a report on rationalisation of GST rates and a decision will be taken in due course, sources said.

Many states are spending high amounts on populist schemes and with the GST compensation ending in June, they need to re-prioritise their expenditure

With most states on board to raise revenue so that they do not have to depend on Centre for compensation, the GST Council at its meeting next month is likely to consider a proposal to do away with the 5 per cent slab by moving some goods of mass consumption to 3 per cent and the remaining to 8 per cent categories, sources said.

Chhattisgarh Chief Minister Bhupesh Baghel on Wednesday said that he will discuss issues like Good and Services Tax, Naxal-affected areas and their development and other issues concerning the state during his meeting with Home Minister Amit Shah.