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gST Council Meeting: On July 1, 2022, five years before the implementation of GST will be completed, just two days before that on June 28 and 29, the meeting of the GST Council is going to be held in Srinagar, the capital of Jammu and Kashmir. Finance Minister Nirmala Sitharaman’s office has given this information by tweeting itself. However, it was not told what would be the agenda of the GST Council meeting.

Possible discussion on tax slabs
It is believed that the GST Slab Rates can be discussed in the meeting of the GST Council. It is believed that the Group of Ministers made up of tax slabs will discuss before the meeting of the GST Council and will put their suggestions before the Council. Although the decision on this is to be taken by the GST Council, but it is believed that in view of rising inflation, the proposal to change the tax slab should be shelved for the time being. The GST Council had last year constituted a seven-member group of ministers from states under the chairmanship of Karnataka Chief Minister Basavaraj Bommai to give suggestions on rationalization of GST rates.

28% GST on Online Gaming!
There is a preparation to impose 28 percent GST on Online Gaming, Casino and Race Course. The Group of Ministers (GoM) consisting of state finance ministers has given its consent to recommend 28 per cent GST on online gaming, casinos and race courses. It is being told that this agenda can be presented in front of the 47th meeting of the GST Council. Let us tell you that at present there is a provision to levy 18 percent GST on gaming without betting. But 28 per cent GST is levied on betting online gains. There is a provision to levy 18 percent on the commission charged on every game by the online gaming platform. Horse racing attracts a GST of 28 per cent of the total betting value. But now it is proposed to charge 28 percent GST on all types of gaming.

GST on cryptocurrencies possible
Preparations are on to bring cryptocurrencies under the purview of GST (Goods and Services Tax). It is believed that 28 percent GST can be levied on cryptocurrencies and related services. Currently, crypto exchanges have to pay 18 percent GST for providing their services.

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By udaen

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