GST Council Sets 28% Tax on Casinos, Horse Racing, Online Gaming; Reduces Rates on Select Goods; Streamlines Compliance.

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GST Council Sets 28% Tax on Casinos, Horse Racing, Online Gaming; Reduces Rates on Select Goods; Streamlines Compliance.

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....Recommendations of 50th meeting of GST Council - GST Council recommends Casino, Horse Racing and Online gaming to be taxed at the uniform rate of 28% on full face value - Notification for GST Appellate Tribunal to be issued with effect from 01.08.2023 - Exemption from GST on cancer-related drugs, medicines for rare diseases and food products for special medical purposes - GST rates redued from 18 percent to 5 percent on 4 items i.e Uncooked, unfried & extruded snack palettes, fish soluble paste, LD slag to be at par with blast furnace slag, and imitation zari thread - Several measures for streamlining compliances in GST....

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GST Council Sets 28% Tax on Casinos, Horse Racing, Online Gaming; Reduces Rates on Select Goods; Streamlines Compliance.