Categories: Business

GST Council meet may not look at online gaming tax

NEW DELHI: The GST Council meeting on Saturday is likely to focus on the immediate business at hand and issue several clarifications on issues flagged by various industries, including on extra neutral alcohol (ENA).
Despite intense lobbying by the powerful lobby and vocal investors, the all-powerful panel headed by union finance minister Nirmala Sitharaman will steer clear of issues, such as a review of levies on online gaming and casinos, which attract 28% GST.The Council had earlier decided to review the tax after six months, prompting companies and their vocal backers to raise the demand soon after the Modi govt was sworn in for a third term.
Tax consultants were also expecting the process of rationalisation of GST rates to start after the new govt took charge. “This meeting will focus on issues that require legal changes as they can be dealt with in the Finance Bill,” an official said. Sitharaman will move her tax proposals in the Budget, scheduled for next month.
ENA is one of the issues that requires amendments. Last October, the Centre ceded the right to levy GST on ENA and left it in the domain of the states. The law committee of the council was asked to examine if amendments are required to exclude ENA for use in manufacture of alcoholic liquors for human consumption from the ambit of GST. The amendments are expected to provide greater clarity on the matter. The issue of how the cases related to anti-profiteering body will be dealt with may also figure on the agenda.

News Today

Recent Posts

Kareena Kapoor’s Next Untitled Film With Meghna Gulzar Gets Prithviraj Sukumaran On Board

Kareena Kapoor is working with Raazi director Meghna Gulzar for her next film. The project,…

14 hours ago

Purdue basketball freshman Daniel Jacobsen injured vs Northern Kentucky

2024-11-09 15:00:03 WEST LAFAYETTE -- Daniel Jacobsen's second game in Purdue basketball's starting lineup lasted…

14 hours ago

Rashida Jones honors dad Quincy Jones with heartfelt tribute: ‘He was love’

2024-11-09 14:50:03 Rashida Jones is remembering her late father, famed music producer Quincy Jones, in…

15 hours ago

Nosferatu Screening at Apollo Theatre Shows Student Interest in Experimental Cinema – The Oberlin Review

2024-11-09 14:40:03 A silent German expressionist film about vampires accompanied by Radiohead’s music — what…

15 hours ago

What Are Adaptogens? Find Out How These 3 Herbs May Help You Tackle Stress Head-On

Let's face it - life can be downright stressful! With everything moving at breakneck speed,…

15 hours ago

The new Mac Mini takes a small step towards upgradeable storage

Apple’s redesigned Mac Mini M4 has ditched the previous M2 machine’s SSD that was soldered…

15 hours ago