States like Goa have long protested the proposal to impose a higher rate of GST on casinos. Again, all the concerned organizations asked that if the GST is imposed at the highest rate of 28 percent on online gaming, this new industry will be on the way. It was argued that it was not all about gambling or speculation, there was skill involved. But finance ministers of other states, including West Bengal, advocated imposing GST at 28% in these cases. Acknowledging that demand, the GST council decided to levy 28 percent tax on online gaming, casino, and horse racing. GST will be levied on the amount being wagered.
Like lottery or gambling, there will be no discount on online gaming from now on. The law will be amended to bring it under GST.
It has been decided to exempt the cancer treatment drug Dinutuximab, prepared food for special medical needs, and raw papad from GST. It has been decided to reduce GST to 5% on food and beverages sold in multiplexes. GST cess on MUVs (Multi Utility Vehicles) has been increased from 20 to 22 percent.
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From children, and teenagers to young people who are attracted to online gaming, in the face of allegations that online gambling is going on, the Union Ministry of Information Technology is also trying to bring a regulatory law in this regard.
The GST Council, however, has focused only on tax collection, according to the statement of the Union Finance Minister, the GST is levied on income and profit.
As a result, some states and some organizations associated with it are angry. They had a question, are they given more importance than daily necessities?
The Union Finance Ministry has taken a strict stand in this regard.
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