GST Council to Review Taxation on Online Gaming and Fertilizers
The GST Council, chaired by Union Finance Minister Nirmala Sitharaman, will discuss various issues including taxation on online gaming and recommendations to lower tax on fertilizers in its upcoming meeting. The council may also finalize reports on GST rate rationalisation and amendments based on past decisions.
- Country:
- India
The GST Council, led by Union Finance Minister Nirmala Sitharaman, is set to address a variety of critical issues during its meeting on Saturday. Key agenda items include the taxation of online gaming and the Parliamentary standing committee's proposition to reduce tax on fertilizers.
In its 53rd meeting, the GST Council is expected to deliberate on the progress made by the Group of Ministers (GoM) concerning GST rate rationalisation. These discussions follow recommendations to alleviate tax burdens on fertilizers and raw materials used by manufacturing companies and farmers.
The council will also revisit its previous decision to impose a 28 per cent GST on the full value of bets for online gaming, implemented from October 1, 2023. With just over 70 show cause notices issued to gaming companies for alleged tax evasion, legal and procedural clarifications are anticipated during this session.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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