The Items and Companies Tax (GST) Council has requested the Group of Ministers (GoM) to re-deliberate the tax charge on horse racing, on-line gaming and casinos by July 15, Finance Minister Nirmala Sitharaman mentioned whereas addressing the media after a two-day assembly.
A GoM headed by Meghalaya Chief Minister Conrad Sangma has been requested to contemplate submissions of stakeholders once more on the valuation mechanism and submit its report by July 15, Ms Sitharaman mentioned.
The council will meet once more within the first week of August to resolve on the difficulty, she added.
The Council, in its 47th assembly, mentioned a proposal to impose highest tax charge of 28 per cent on all actions associated to on-line video games, casinos and horse racing, together with the competition entry payment paid by the participant.
On the primary day, the Council chaired by Ms Sitharaman and comprising state counterparts, additionally mentioned to tweak tax charges of some items and companies, together with bringing pre-packed and labelled meals objects below the tax internet to test evasion.
GST was launched on July 1, 2017, and states had been assured of compensation for the income loss until June 2022, arising on account of the rollout.
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Initially posted by – www.ndtv.com