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GST News Details

50th GST Council likely to Meet in June: Know the Agenda

The Goods and Services Tax (GST) Council is expected to meet again in June to discuss the long-pending problem of taxing online gaming, horse racing, and casinos.

While no specific date has been set as of yet, official sources indicate that the next meeting of the Council will most likely be held in June, as most states will have concluded their budget-making processes by then. Furthermore, significant work would have been made in establishing the GST Appellate Tribunal, and states would be able to propose the establishment of benches in their respective territories.

Officials have also stated that a large modification in GST rates and slabs is unlikely at this time, citing that the tax regime has nearly settled. “There will continue to be revisions and reviews in rates of specific items as and when required and to clear confusion,” an official source said. “A full-fledged overhaul of the rate structure is not planned for the time being.”

Proposals to revise millets and cement rates, as well as the compensating cess on pan masala, are expected to be considered. The fitting committee is now investigating all of these issues.

“We expect the next meeting of the GST Council to be held in June, when the report of the Group of Ministers on GST on online gaming, horse racing, and casinos will also be taken up for discussion and hopefully approval,” an official source said, adding that the issue is likely to be addressed without the need for Council voting.

The report was not discussed at the 49th meeting of the GST Council in February because the head of the GoM, Meghalaya chief minister Conrad Sangma, was unable to attend owing to regional elections. However, there was no agreement on how to tax online games or whether they should be considered a game of skill or a game of chance, and this will necessitate a full discussion in the GoM.

At the moment, actionable claims in the form of betting and gambling, including those resulting from internet gaming, attract 28% GST, and the GST Act does not differentiate between games of skill and games of chance.

Source : Study Cafe