28 percent GST tax..? Who are all affected by this ..!

With only 2 months left in the GST compensation to be paid by the central government to the states, several important decisions are expected to be taken at the next GST meeting in a few countries. Restructuring of the GST tax board, which has been talked about for several months, in particular, is expected to be the main topic of discussion at the meeting, while it is stated categorically that there will be no changes in the GST tax board in the face of the country's economy, trade and inflation.
In that sense, it is possible the tax was levied on some important services at this meeting. government sources said the GST Council meeting to be held this week will consider the proposal of the State Finance Council to impose a 28 percent GST on online gaming, casinos, and horse racing. A group of ministers headed by meghalaya Chief minister Conrad Sangma has recommended that the full value of online gaming should be taxed, including the competitive entrance fee people pay to participate in the game.
This will result in a 28 percent GST tax not only on all payments made on the race course but also on the winning amount. Similarly, at casinos, 28 percent GST is levied on betting and chips and coins. Similarly, it has been proposed to levy a 28 percent tax on all food, beverages, and liquor purchased at the casino from the deposit fee. If this tax is approved, it will have a major impact on the sector. Online gaming, casinos, and horse racing are currently taxed at 18 percent GST.The GST Council meeting in chandigarh this week is likely to see changes in the Goods and services Tax (GST) rates for a few items and no change from the current level in the rates of more than 215 items.The 47th meeting of the GST Council, chaired by Union Finance minister Nirmala Sitharaman and comprising representatives from all states and Union Territories, is scheduled for june 28-29. The GST Council meets after a six-month hiatus.

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28% percent GST tax

Sowmiya Sriram

27/06/2022 03:39 PM